Which of the following is true for a firm operating under perfect ...

[fagboi]

Which of the following is true for a firm operating under perfect competition, monopolistic competition, and monopoly?
 a. Firms earn positive economic profits in the long run.
  b. Firms earn zero economic profits in the long run.
  c. Profits are maximized when marginal cost equals marginal revenue.
  d. Price equals marginal cost.

Question 2

Indifference curve analysis is based on numerical measurement of utility.
 a. True
  b. False
  Indicate whether the statement is true or false

[apple]

Answer to Question 1

c

Answer to Question 2

False

[fagboi]

Excellent

[tranoy]

Gracias!