In long run equilibrium, a perfectly competitive firm: a. can earn positive economic profits. b. ...

Author Question: In long run equilibrium, a perfectly competitive firm: a. can earn positive economic profits. b. ... (Read 50 times)

stock

Hero Member
Posts: 573

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
Posts: 322

Reply #1 on: Jun 30, 2018

Answer to Question 1

b

Answer to Question 2

D

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