In the short run, a perfectly competitive firm can
A) only make an economic profit.
B) only make zero economic profit.
C) only incur an economic loss.
D) make an economic profit, zero economic profit, or incur an economic loss.
Question 2
In the United States, Texas ranks number one in the amount of installed megawatts for wind power generation and Florida ranks number one in the number of beach vacations. These facts point out that
A) Texas has a comparative advantage in wind power generation.
B) Texas definitely has an absolute advantage in wind power generation.
C) Florida should produce more wind energy.
D) Florida can produce wind energy at a lower opportunity cost than can Texas.
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