The opportunity cost of a given investment is the potential earnings forfeited by tying up money in the investment.
Correct Answer:
Verified
Q37: Firms in perfectly competitive markets are confined
Q38: The demand curve of a perfectly competitive
Q39: Total profit of a competitive firm can
Q40: If a firm sells its output at
Q41: In the short run, if price is
Q43: The short-run supply curve for the perfectly
Q44: A firm will not choose to produce
Q45: In the short run, only a limited
Q46: Economic profit equals gross earnings minus the
Q47: Zero economic profit means that the firm's
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