Firms that employ exceptionally productive resources
A) have lower costs than other firms in the industry and are able to earn positive economic profit in the long run.
B) earn zero economic profit.
C) will typically have to pay the exceptional resource economic rent equal to the reduction in cost attributable to employing the exceptionally productive resource.
D) both a and b
E) both b and c
Correct Answer:
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Q50: Refer to the following figure:

Q51: Suits Only, a dry cleaning firm that
Q52: Refer to the following figure:

Q54: Consider the short-run supply curve for a
Q56: Refer to the following figure, showing the
Q57: Suits Only, a dry cleaning firm that
Q58: Refer to the following figure, showing the
Q59: Refer to the following figure:

Q60: In a perfectly competitive market
A)a firm faces
Q60: In long-run competitive equilibrium it is possible
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