Author Question: In short-run equilibrium in a perfectly competitive market, firms always make zero economic profit. ... (Read 261 times)

Arii_bell

  • Hero Member
  • *****
  • Posts: 596
In short-run equilibrium in a perfectly competitive market, firms always make zero economic profit.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Because there is a finite supply of a nonrenewable resource,:
 a. it has inadequate substitutes.
  b. any use of that resource today will leave less available for tomorrow.
  c. such resources are replenished faster than they are consumed.
  d. the government subsidizes the extraction of such resources.
  e. any use of that resource today means the value of the resource will fall in the future.



ms_sulzle

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

False

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

For a complete list of videos, visit our video library