Economic Profit equals accounting profit plus the cost of ...

[bcretired]

Economic Profit equals accounting profit plus the cost of capital.
  Indicate whether the statement is true or false

Question 2

An individual firm in a perfectly competitive labor market faces:
 a. a downward sloping labor demand curve and an upward sloping labor supply curve.
  b. a horizontal labor supply curve and a vertical labor demand curve.
 c. a horizontal labor supply curve and a downward sloping labor demand curve.
 d. an upward sloping labor supply curve and a horizontal labor demand curve.

[vickyvicksss]

Answer to Question 1

False

Answer to Question 2

c

[bcretired]

Thanks for the timely response, appreciate it

[peter]

Gracias!