For most items, we find the price elasticity of supply will be
A) negative.
B) positive.
C) zero.
D) infinity.
Answer: B
Economics
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When applying the marginal principle, you should pick the level at which the activity's marginal benefit is less than its marginal cost
Indicate whether the statement is true or false
Economics
In the long run, a perfectly competitive firm makes zero economic profit. What incentive does the firm have to stay in business if it is making zero economic profit?
What will be an ideal response?
Economics