In the long run, a firm in perfect completion will earn which of the following?

Which of the following is a plausible reason that restaurants offer "Senior Citizen Discounts"?

A) Senior citizens tend to have relatively more elastic demands for restaurant meals than other consumer groups. B) Senior citizens tend to have relatively more inelastic demands for restaurant meals. than other consumer groups. C) Senior citizens are not very sensitive to changes in prices. D) Senior citizens are easily fooled by "come-ons" and are therefore frequently victims of price discrimination.

One of the main determinants of real GDP per person is the growth of capital per person. Which of the following variables does NOT determine the growth of capital per person in the long run?

A) average saving rate B) output-to-capital ratio C) marginal tax rate on investment D) depreciation rate