Other things being equal, which market structure is most likely to yield the greatest industry long-run economic profit?

Based on the figure above, curve D is the firm's

A) marginal cost curve. B) total cost curve. C) average total cost curve. D) average variable cost curve. E) average fixed cost curve.

According to your text, there are substitutes for any scarce good,

A) but some demand curves are vertical. B) but the elasticity of demand for most goods is zero. C) but the law of demand only holds for inexpensive goods. D) but it often takes time for consumers to seek out useful substitutes.