A firm that minimizes average cost will not survive in the long ...

[dejastew]

A firm that minimizes average cost will not survive in the long run.
 a. True
  b. False

Question 2

When firms in an industry produce differentiated products,
 a. long-run economic profit will always be zero
  b. short-run economic profit will always be positive
  c. the demand curves facing firms will always be perfectly elastic
  d. the demand curves facing firms will always be downward-sloping
  e. new firms will always have an incentive to enter the industry in the long run

[Melissahxx]

Answer to Question 1

B

Answer to Question 2

D