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Author Question: In long-run equilibrium, the typical perfectly competitive firm will: a. earn zero economic profit. ... (Read 39 times)

D2AR0N

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  • Posts: 561
on: Jun 30, 2018
In long-run equilibrium, the typical perfectly competitive firm will:
 a. earn zero economic profit.
  b. change plant size in the long run.
  c. change output in the short run.
  d. do any of these.

Question 2

If the income elasticity of demand for a good is negative, the good is an inferior good.
 a. True
  b. False
  Indicate whether the statement is true or false


Ksanderson1296

  • Sr. Member
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  • Posts: 339
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

True


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