In the long run, a firm will continue to produce:
A) if it earns abnormal profit
B) if it earns normal profit
C) if it earns supernormal profit
D) if it earns above normal profit
Correct Answer:
Verified
Q3: A firm will shut down in the
Q4: Diminishing marginal returns relates to the:
A) rate
Q5: If a profit- maximising firm is producing
Q6: If a firm is experiencing diseconomies of
Q7: Which of the following is most likely
Q9: If a firm's demand curve is negatively
Q10: Once the profit- maximising level of output
Q11: A firm may be unable to maximise
Q12: The formula for average variable costs is:
A)
Q13: The time period when all factors are
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