If a perfectly competitive firm made an economic profit in the short run, but not in the long run, it must be true that
a. prices for inputs increased
b. demand declined
c. new firms entered, supply increased, and price fell
d. accounting profit exceeds economic profit
e. labor costs are increasing
C
Economics
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Which of the following statements is true?
A) Economic growth always reduces poverty. B) Economic growth is ineffective in reducing both poverty and inequality. C) Economic growth always reduces inequality. D) Economic growth can reduce poverty only if it is not associated with a significant rise in inequality.
Economics
A two-part price is less efficient than a Ramsey
Indicate whether the statement is true or false
Economics