In long-run equilibrium, the typical perfectly competitive firm ...

[D2AR0N]

In long-run equilibrium, the typical perfectly competitive firm will:
 a. earn zero economic profit.
  b. change plant size in the long run.
  c. change output in the short run.
  d. do any of these.

Question 2

If the income elasticity of demand for a good is negative, the good is an inferior good.
 a. True
  b. False
  Indicate whether the statement is true or false

[Ksanderson1296]

Answer to Question 1

a

Answer to Question 2

True