Author Question: In the long run, a competitive firm will earn zero economic profit. a. True b. False Indicate ... (Read 86 times)

Arii_bell

  • Hero Member
  • *****
  • Posts: 596
In the long run, a competitive firm will earn zero economic profit.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Bonnie gets her hair cut at her usual salon and is very happy with the results. Later that afternoon, she goes to the mall and sees that a hair salon is giving away free haircuts only on that day. If Bonnie does not take advantage of the giveaway, it is because the:
 a. marginal utility of the next haircut would be zero or negative.
  b. marginal utility of the next haircut would increase.
  c. marginal utility of the next haircut would be zero or positive.
  d. total utility of both haircuts would be zero or negative.
  e. total utility of both haircuts would be higher than just one haircut.



al

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

True

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

For a complete list of videos, visit our video library