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Author Question: The long-run aggregate supply curve is upward sloping. Indicate whether the statement is true or ... (Read 73 times)

Pineapplelove6

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on: Jun 29, 2018
The long-run aggregate supply curve is upward sloping.
 
  Indicate whether the statement is true or false

Question 2

In the above figure, if the price is 12, a profit-maximizing perfectly competitive firm will have an economic profit
 
  A) of less than 100 but more than 0.
  B) of more than 100.
  C) that is negative, that is, it will have an economic loss.
  D) of zero, that is, it will break even with a normal profit.


ntsoane kedibone

  • Sr. Member
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  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

D


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