Author Question: When faced with an economic loss, a competitive firm will exit the industry in the long run. a. ... (Read 95 times)

altibaby · **on:** Jun 30, 2018

When faced with an economic loss, a competitive firm will exit the industry in the long run.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If finding the last stamp to complete your collection makes you happier than finding the first, then:
a. marginal utility is zero.
b. marginal utility is negative.
c. total utility is decreasing.
d. total utility is constant.
e. marginal utility is not diminishing.