If a country operates on its PPF, it achieves production ...

[MirandaLo]

If a country operates on its PPF, it achieves production efficiency.
 
  Indicate whether the statement is true or false

Question 2

The figure above shows the cost, marginal revenue, and demand curves of Golden Chow, a producer of dog food. The market for dog food is monopolistic competition. In the short run, Golden Chow sells 400 cans of dog food per day and makes ________.
 
  Other firms have ________ incentive to enter the industry. A) an economic profit of 200 a day; an
  B) an economic profit of 400 a day; an
  C) a normal profit of 200 a day; no
  D) an economic profit of 400 a day; no

[HandsomeMarc]

Answer to Question 1

TRUE

Answer to Question 2

A

[MirandaLo]

Thanks for the timely response, appreciate it

[dyrone]

Excellent