When Sidney's Sweaters, Inc makes exactly zero economic profit, ...

[cool]

When Sidney's Sweaters, Inc makes exactly zero economic profit, Sidney, the owner
 
  A) is taking a loss.
  B) will shut down in the short run.
  C) makes an income equal to his best alternative forgone income.
  D) will boost output.

Question 2

The ________ the portion of your income spent on a good, the ________ is your demand for the good.
 
  A) larger; more income elastic
  B) larger; more price elastic
  C) smaller; less price elastic
  D) smaller; more income elastic

[huda]

Answer to Question 1

C

Answer to Question 2

C

[cool]

Wow, this really help

[upturnedfurball]

Thanks for the timely response, appreciate it