Use the following to answer questions :
Figure 8-1
-In Figure 8-1, in the long-run the firm's economic profits will equal:
A)0.
B)$40.
C)$100.
D)$150.
E)none of the above.

Name: Use the following to answer questions : Figure 8-1 -In Figure 8-1, in the long-run the firm's economic profits will equal: A)0. B)$40. C)$100. D)$150. E)none of the above.
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Question

Use the following to answer questions :
Figure 8-1 
-In Figure 8-1, in the long-run the firm's economic profits will equal:
A)0. 
B)$40. 
C)$100. 
D)$150. 
E)none of the above.

Quizplus · Accepted Answer

In the long-run, economic profits will be driven to zero in a perfectly competitive market, so the answer is 0.

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