Solved

Use the Following to Answer Question

Question 220

Multiple Choice

Use the following to answer question:
Figure: The Restaurant Market Use the following to answer question: Figure: The Restaurant Market   -(Figure: The Restaurant Market) Use Figure: The Restaurant Market.The figure shows curves facing a typical restaurant.Assume that many firms,differentiated products,and easy entry and exit characterize the restaurant market.In long-run equilibrium,the economic profit earned by the typical restaurant in the community will be: A) negative. B) zero. C) equal to the level shown in the figure. D) Not enough information is given to answer the question.
-(Figure: The Restaurant Market) Use Figure: The Restaurant Market.The figure shows curves facing a typical restaurant.Assume that many firms,differentiated products,and easy entry and exit characterize the restaurant market.In long-run equilibrium,the economic profit earned by the typical restaurant in the community will be:


A) negative.
B) zero.
C) equal to the level shown in the figure.
D) Not enough information is given to answer the question.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions