Newly constructed homes are classified as

Profits of a monopoly are driven to zero

a. In the long-run as all assets are mobile in the long-run b. Immediately in the short-run as assets move from low-valued uses to high-valued uses instantly c. In the long run because the demand curve becomes more inelastic d. In the short run because the demand curve becomes more elastic

A firm reaches a break-even point (normal profit position) where:

A. marginal revenue cuts the horizontal axis. B. marginal cost intersects the average variable cost curve. C. total revenue equals total variable cost. D. total revenue and total cost are equal.