Since the demand curve is downward sloping, the graph of total profits is also has a negative slope.
Answer the following statement true (T) or false (F)
False
Economics
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Name the three types of unemployment
What will be an ideal response?
Economics
Economists proclaim that competitive firms make zero economic profit in the long run. This shows how
A) detached economists are from the real world. B) unrealistic economic theory is. C) firms cover all their cost, both monetary and non-monetary. D) firms cover only monetary cost when economic profits are zero.
Economics