Author Question: The automobile, steel, and oil markets are all examples of: a. perfectly competitive markets. b. ... (Read 97 times)

karlynnae · **on:** Jun 30, 2018

The automobile, steel, and oil markets are all examples of:
a. perfectly competitive markets.
b. monopolies.
c. monopolistically competitive markets.
d. oligopolies.

Question 2

Economists say that a firm has a normal profit when:
a. it earns a return of at least 10 percent.
b. its accounting profit is positive.
c. it can pay all its variable costs.
d. its economic profit is zero.