If a firm is producing no output in the short run, then its total ...

[rosent76]

If a firm is producing no output in the short run, then its total costs are zero.
 
  Indicate whether the statement is true or false

Question 2

An oligopolistic industry is characterized by all of the following except
 
  A) production of standardized or differentiated products.
  B) firms pursuing aggressive business strategies, independent of rivals' strategies.
  C) existence of entry barriers.
  D) the possibility of reaping long-run economic profits.

[Danny Ewald]

Answer to Question 1

FALSE

Answer to Question 2

B