Suppose the annual growth rate of GDP in Belize is 3.5 percent. In 20 years, GDP in Belize will double

Diseconomies of scale are illustrated graphically by an upward shift of the firm's long-run average cost curve

Indicate whether the statement is true or false

In the short-run under perfect competition, which of the following is always true?

a. Economic profit earned by firms can be negative, zero, or positive. b. Economic profit earned by firms is always zero. c. Economic profit earned by firms can be zero or positive, but not negative. d. Economic profit earned by firms is positive, but not zero or negative.