This topic contains a solution. Click here to go to the answer

Author Question: In short-run perfectly competitive equilibrium, which of the following is alwaystrue? a. Profit ... (Read 58 times)

dalyningkenk

  • Hero Member
  • *****
  • Posts: 598
In short-run perfectly competitive equilibrium, which of the following is alwaystrue?
 a. Profit equals zero.
  b. Profit can be negative, zero, or positive.
  c. Profit can be zero or positive, but not negative.
  d. Profit is positive, otherwise firms would not produce.

Question 2

The number of CDs purchased increased by 50 percent when consumer income increased by 10 percent. Assuming other factors are held constant, CDs would be classified as:
 a. social goods.
  b. normal goods.
  c. Giffen goods.
  d. inferior goods.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yahahah24021

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

b

Answer to Question 2

b




dalyningkenk

  • Member
  • Posts: 598
Reply 2 on: Jun 30, 2018
:D TYSM


adammoses97

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Gracias!

 

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

For a complete list of videos, visit our video library