When accounting profits are negative, economic profits
A) must be positive.
B) will be negative.
C) will equal zero.
D) could be positive, negative or zero.
B
Economics
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When economic profits are negative, accounting profits
A) must be positive. B) will be negative. C) will equal zero. D) could be positive, negative or zero.
Economics
Both a perfectly competitive firm and a monopolist:
a. always earn an economic profit. b. maximize profit by setting marginal cost equal to marginal revenue. c. maximize profit by setting marginal cost equal to average total cost. d. are price takers.
Economics