In the long run, a firm in monopolistic competition will
A) make a negative economic profit, that is, an economic loss.
B) make zero economic profit, that is, a normal profit.
C) make a positive economic profit.
D) None of the above answers is necessarily correct because the amount of the profit or loss depends on the slope of the demand curve.
Question 2
The above table gives some cost data for Peter's Pickles. Peter's fixed cost is 20. The average total cost (ATC) when 5 barrels of pickles are produced is
A) 22.
B) 26.
C) 35.
D) There is not enough information to answer the question.
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economic question
economic question
economic question