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Author Question: In long run equilibrium, a perfectly competitive firm: a. can earn positive economic profits. b. ... (Read 44 times)

stock

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on: Jun 30, 2018
In long run equilibrium, a perfectly competitive firm:
 a. can earn positive economic profits.
  b. earns zero economic profits.
 c. can earn negative economic profits.
  d. can do any of the above.

Question 2

A demand curve is said to be inelastic if:
 a. ED = 1
  b. ED = 0
  c. ED > 1
  d. ED < 1


scottmt

  • Sr. Member
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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

D


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