Profits and losses are TRUE signals because they
A) convey information about true long-run profits.
B) cannot be misinterpreted by entrepreneurs.
C) convey information about where to place resources and reward people who act on the information.
D) reward people who make profits with even more profits and punish those who make losses with even more losses.
Correct Answer:
Verified
Q353: Which of the following would tell us
Q354: A TRUE signal must
A) convey information only.
B)
Q355: Suppose a perfectly competitive industry is in
Q356: If the long-run supply curve is upward
Q357: An industry whose total output can be
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