If a firm is earning a positive economic profit,it means that it:
A) is using its resources in the most profitable way.
B) should invest its resources in other business opportunities.
C) has an opportunity cost that is larger than what the firm is currently earning.
D) operating in the long run in a perfectly competitive market.
Correct Answer:
Verified
Q109: In the long run,firms in a perfectly
Q111: We assume that in the short run
Q112: Q113: If a firm is earning a negative Q115: The market supply in a perfectly competitive Q116: If firms are producing at a profit-maximizing Q117: We assume that in the short run Q118: In the short run,we assume that the Q122: If firms are producing at a profit-maximizing Q139: If firms are producing at a profit-maximizing
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