Refer to the accompanying graphs for a competitive market in the short run. What will happen to the representative firm's economic profits as long-run market adjustments occur?
A)Profits will increase to some positive value.
B)Profits will decrease to some negative value.
C)Profits will increase to zero.
D)Profits will stay the same as they are now.

Question

Refer to the accompanying graphs for a competitive market in the short run. What will happen to the representative firm's economic profits as long-run market adjustments occur?
A)Profits will increase to some positive value. 
B)Profits will decrease to some negative value. 
C)Profits will increase to zero. 
D)Profits will stay the same as they are now.

Quizplus · Accepted Answer

The Answer of  Refer to the accompanying graphs for a competitive market in the short run. What will happen to the representative firm's economic profits as long-run market adjustments occur?
A)Profits will increase to some positive value. 
B)Profits will decrease to some negative value. 
C)Profits will increase to zero. 
D)Profits will stay the same as they are now.

Refer to the Accompanying Graphs for a Competitive Market in the Short