In 1995,the Collapse of Which of the Following European Countries

question 11

Multiple Choice

In 1995,the collapse of which of the following European countries produced the largest refugee crisis in Europe since the end of World War II?

• A) Turkey
• B) Yugoslavia
• C) Greece
• D) Romania

---

Definitions:

MR = MC Rule

The principle that a firm will maximize its profit (or minimize its losses) by producing the output at which marginal revenue and marginal cost are equal, provided product price is equal to or greater than average variable cost.

Pure Competition

A business environment where many small companies sell identical products and there are no barriers to entering or leaving the market, resulting in perfect competition.

Pure Monopoly

A market framework where there is only one provider offering a distinctive product without any closely resembling alternatives.

Increasing Profits

A financial strategy or outcome where a business experiences a growth in net earnings over time.