Author Question: A perfectly competitive firm in the short-run can earn: a. positive economic profits. b. negative ... (Read 123 times)

arivle123 · **on:** Jun 30, 2018

A perfectly competitive firm in the short-run can earn:
a. positive economic profits.
b. negative economic profits.
c. zero economic profits.
d. all of these are possible

Question 2

If a consumer's purchases of a product increases as income increases, this good is classified as a(n):
a. superior good.
b. inferior good.
c. substitute good.
d. complementary good.
e. normal good.