Chat with AI
Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569 Exercise 11
"When the firms in the industry are just able to cover their cost of production, economic profit is zero. Therefore, if demand falls, causing prices to go down even a little bit, all of the firms in the industry will be driven out of business." True or false Explain.
Explanation
Verified
Verified
False, in such a situation only some, no...
Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
