A dairy farmer with negative economic profit might stay in business, because:
A) she prefers farming over other occupations
B) it could be a bad weather year in the short run
C) both a and b
D) neither a nor b
Correct Answer:
Verified
Q43: Tom's Tortillas.
Tom purchases X = wheat
Q44: Tom has what type of cost structure?
A)
Q45: The MC for Tom's Tortillas represent:
A) additional
Q46: Suppose Tom is earning zero economic profit.
Q47: A pineapple grower with positive economic profit
Q49: For a perfectly competitive firm, prices are:
A)
Q50: Perfect competition assumes all except the following:
A)
Q51: Below is the production function for
Q52: Draw a graph for TRP, TFC, MRP,
Q53: A greenhouse purchases X = seeds
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