How Many Japanese and Japanese Americans Were Detained in Internment

question 29

Multiple Choice

How many Japanese and Japanese Americans were detained in internment camps in the United States during World War II?

• A) 120,000
• B) 90,000
• C) 150,000
• D) 175,000
• E) 136,000

Analyze the cost structure and profitability (economic profits, losses, and normal profits) of firms operating in perfectly competitive markets.

Understand the concept of long-run adjustments in purely competitive markets including entry and exit of firms.

Comprehend that in the long run, purely competitive markets yield zero economic profits due to the entry or exit of firms.

Recognize the conditions under which firms will either enter or leave purely competitive markets.

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Definitions:

Direct Labor-Hours

The cumulative hours spent by workers who are actively engaged in the production process.

Machine-Hours

The duration, typically measured in hours, that machinery is in operation for producing goods during a specific timeframe.

Departmental Predetermined Overhead Rates

Rates used to allocate indirect costs to products or services, computed in advance for each department within a company.

Machine-Hours

A measure of production volume or activity based on the number of hours machines are operated in the manufacturing process.