Multiple Choice
If firms are exiting a perfectly competitive industry,this suggests that
A) economic profit is zero.
B) accounting profit is zero.
C) accounting profit is negative.
D) there is normal profit.
E) economic profit is negative.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Right Panel: The market: a shift of
Q8: Right Panel: The market: a shift of
Q9: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3714/.jpg" alt=" -Refer to the
Q10: Right Panel: The market: a shift of
Q11: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3714/.jpg" alt=" -Use the data
Q13: The value of income received by a
Q14: If accounting profit is positive,then<br>A) economic profit
Q15: Economic profit is<br>A) the same as accounting
Q16: If economic profit is negative but accounting
Q17: Superstar professional athletes can sustain their economic