For a perfectly competitive firm facing the short-run break-even price
A) it has a negative accounting profit.
B) it has an economic profit of zero.
C) it should shut down.
D) it should expand production.
Answer: B
Economics
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When economic structuralists witness powerful countries attempting to take control of natural resources in weaker countries, they see this as a
a. normative collaboration. b. triumph of hegemony. c. tragedy of the commons. d. new colonialism
Economics
In the Cambridge approach, if k is .5, total output is $50 billion, and the money supply is $100 billion, the price level is
A) 0.5. B) 4.0. C) 3.0. D) 10.0.
Economics