Changes in the health of the average person are relatively unimportant as an indicator of changes in the standard of living

A rise in demand for restaurant meals is likely to cause which of the following in the long run?

a. economic losses for each restaurant b. a lower price for each restaurant meal c. fewer restaurants in the industry d. more restaurants in the industry e. economic profit for restaurants

Perfectly competitive firms earn zero economic profit in the long run

a. True b. False Indicate whether the statement is true or false