If the firm can vary all factors of production, it is operating
A) at a profit.
B) at a zero economic profit.
C) in the short run.
D) in the long run.
Answer: D
Economics
You might also like to view...
The primary reason most oligopolists do not become monopolists is
a. inadequate profit b. disinclination to merge c. fear of government d. inability to prevent competitors from entering the industry e. inability to differentiate their goods
Economics
The theoretical model of the intertemporal budget constraint suggests that the most important factor in support of individual savings is:
a. the preference of the individual. b. a higher rate of return on savings. c. an increase in income. d. a decrease in the cost of living.
Economics