In perfect competition, a firm's long-run profits are zero when:
Select the correct answer below:
a. price intersects marginal cost below the average total cost curve
b. price intersects marginal cost at a level equal to the average total cost
c. price intersects marginal cost above the average total cost curve
d. price does not intersect marginal cost
Answers: 1
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Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.
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In a transportation minimization problem, the negative improvement index associated with a cell indicates that reallocating units to that cell would lower costs.truefalse
Answers: 1
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Nnette henri is paid an hourly wage of $8.90 for a 32-hour workweek of 4 days, 8 hours daily. for any work on the fifth day and on saturdays, she is paid one and one-half times her regular hourly rate. during a certain week, in addition to her regular 32 hours, henri worked 6 hours on the fifth day and 5 hours on saturday. for this workweek, henri’s total earnings are:
Answers: 1
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Many years ago, sprint telecommunications aired an advertisement intended to demonstrate the clarity of reception sprint customers could expect. the ad showed a rancher, who had used a different company, complaining that he had ordered 100 oxen from his supplier and instead received 100 dachshunds. the mix-up was probably due to the presence of in the communication process.
Answers: 3
In perfect competition, a firm's long-run profits are zero when:
Select the correct ans...
Select the correct ans...
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