In short-run equilibrium in a perfectly competitive market, firms ...

[Arii_bell]

In short-run equilibrium in a perfectly competitive market, firms always make zero economic profit.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Because there is a finite supply of a nonrenewable resource,:
 a. it has inadequate substitutes.
  b. any use of that resource today will leave less available for tomorrow.
  c. such resources are replenished faster than they are consumed.
  d. the government subsidizes the extraction of such resources.
  e. any use of that resource today means the value of the resource will fall in the future.

[ms_sulzle]

Answer to Question 1

False

Answer to Question 2

b