Sarah's Bargain Store,a perfect competitor,made an economic profit of $20,000.
A) She is operating in the short run.
B) She is operating in the long run.
C) She may be either in the short run or the long run.
D) There is no way to determine if she is operating in the short run or the long run.
Correct Answer:
Verified
Q166: Which of the following is a characteristic
Q167: Which is the most accurate statement?
A)There are
Q168: In the long run the perfect competitor
Q169: The perfect competitor's demand curve is perfectly
Q170: Statement I.Under perfect competition the firm's demand
Q172: Statement I.The perfect competitor is a price-taker,not
Q173: If the perfectly competitive firm withholds some
Q174: If perfect competitors are making profits in
Q175: The perfect competitor's horizontal demand curve illustrates
A)perfect
Q176: If marginal cost is greater than marginal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents