An economic profit for a self-employed entrepreneur is A) an ...

[debasdf]

An economic profit for a self-employed entrepreneur is
 
  A) an opportunity cost.
  B) the same as the normal profit.
  C) a profit over and above opportunity cost.
  D) None of the above answers is correct.

Question 2

In perfect competition, an individual firm
 
  A) faces unitary elasticity of demand.
  B) has a price elasticity of supply equal to one.
  C) faces a perfectly elastic demand.
  D) has perfectly elastic supply.

[Joy Chen]

Answer to Question 1

C

Answer to Question 2

C

[debasdf]

Correct answers!

[Joy Chen]

Great! Please up vote