When a perfectly competitive firm is in long-run equilibrium, economic profits
A) are positive.
B) are zero.
C) are negative.
D) may be positive, zero or negative depending upon costs.
Answer: B
Economics
You might also like to view...
One key to keeping inflation low is to have an independent central bank
Indicate whether the statement is true or false
Economics
On which of the following assets are you most likely to earn interest income?
A. Cash and currency B. Checkable deposits C. Money market deposit accounts D. Gold and other precious metals E. All of these responses are correct.
Economics