Author Question: If the price is 12 per pizza, the perfectly competitive firm in the above figure is A) making an ... (Read 66 times)

bclement10 · **on:** Jun 29, 2018

If the price is 12 per pizza, the perfectly competitive firm in the above figure is

A) making an economic profit.
B) making zero economic profit.
C) incurring an economic loss.
D) More information about the firm's total cost is needed to determine if the firm has a positive economic profit, zero economic profit, or an economic loss.

Question 2

Susan thinks the only fair outcome is one in which she has three slices of pizza a week. Susan is using a(n) ________ concept of fairness.

A) it's not fair if the result isn't fair
B) it's not fair if the rules aren't fair
C) big tradeoff
D) Novak principle