Which of the following will not hold true for a competitive firm in long-run equilibrium?

Sam Edison obtains a patent on his new invention: trinoculars. In the long run,

a. he can earn only a normal profit b. he may suffer an economic loss and stop producing c. his monopoly power guarantees him a positive economic profit d. he will achieve productive efficiency e. he will achieve allocative efficiency

Marginal utility is negative when total utility is increasing

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