In a perfectly competitive market, a given short-run equilibrium cannot persist into the long run unless the firms are earning (suffering)
a. above-normal profits
b. below-normal profits
c. economic losses
d. economic profits
e. just enough profit to cover all the owners' opportunity costs
E
Economics
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If the government implements a price ceiling on insulin, this will
A) decrease the quantity of insulin the manufacturers will be willing to supply. B) encourage manufacturers to produce and sell more insulin to increase their profits. C) have to be set above the market equilibrium price to be effective. D) increase the price consumers will pay for insulin.
Economics
What is a stock? How do stocks affect the economy?
What will be an ideal response?
Economics