A horizontal demand curve is perfectly elastic because a change in price will not induce a change in quantity demanded

Suppose Mail Boxes Etc. buys a new copier for its store for $1000. A year later, when the firm wants to upgrade to a new copier, it finds that the old copier is only worth $750. Over the year the copier was used, ________ has occurred

A) replacement investment B) gross investment C) depreciation D) net investment

In the long run, the price for a perfectly competitive firm

A) will be determined by the firm's supply and demand curves. B) will allow for positive economic profits. C) will equal marginal cost where marginal cost is at a minimum. D) will equal the minimum average total cost.