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Author Question: A firm that minimizes average cost will not survive in the long run. a. True b. ... (Read 172 times)

dejastew

  • Hero Member
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  • Posts: 562
on: Jun 30, 2018
A firm that minimizes average cost will not survive in the long run.
 a. True
  b. False

Question 2

When firms in an industry produce differentiated products,
 a. long-run economic profit will always be zero
  b. short-run economic profit will always be positive
  c. the demand curves facing firms will always be perfectly elastic
  d. the demand curves facing firms will always be downward-sloping
  e. new firms will always have an incentive to enter the industry in the long run


Melissahxx

  • Sr. Member
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  • Posts: 304
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

D


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