In the long run, the perfectly competitive firm
A) does not have a shut down price.
B) earns only a normal profit.
C) may produce even if it suffers a loss.
D) earns an economic profit.
B
Economics
You might also like to view...
What does a balance of trade deficit imply?
a. exports of goods and services exceed imports of goods and services b. imports of goods and services exceed exports of goods and services c. investment income received from abroad exceeds investment income paid to foreigners d. investment income paid to foreigners exceeds investment income received from abroad e. investment by foreigners exceeds domestic investment in other countries
Economics
Economists use theories to: a. abstract from the complexities of the world. b. understand economic behavior
c. explain and help predict human behavior. d. do all of the above.
Economics