When a firm is at its short-run break-even point
A) economic profits are positive.
B) economic profits equal zero and the firm should shut down.
C) economic profits equal zero and the firm is earning a nominal rate of return on investment.
D) economic profits are negative but the firm should continue to produce because accounting profits are positive.
C
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If the benefits to society of students attending college exceed benefits to the students,
a. higher education should be strictly regulated b. higher education should be taxed c. higher education provides a positive externality d. higher education is overproduced at the privately determined equilibrium e. in time, no higher education will be produced
Homothetic tastes are always tastes over essential goods.
Answer the following statement true (T) or false (F)