If the quantity of a good or service demanded at the existing price is less than the quantity supplied, ________ exists

How does the long-run supply curve differ from the short-run supply curve for a perfectly competitive firm? Explain your answer

What will be an ideal response?

A perfectly competitive firm is maximizing profits in the short run. This implies that the firm is earning the most economic profits possible, which

A) must be positive. B) must be either zero or positive. C) can be positive, negative, or zero. D) exist at the point at which price equals total cost.