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A firm that is earning a positive profit in the short run and expects to continue doing so has an ...

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A firm that is earning a positive profit in the short run and expects to continue doing so has an ...

Question 1.

The short run individual firm's supply curve is made up of the zero-profit equilibrium levels of output as the industry expands due to entry.

▸ true

▸ false

Question 2.

A firm that is earning a positive profit in the short run and expects to continue doing so has an incentive to expand its scale of operation in the long run.

▸ true

▸ false

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 70 times

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amw87470

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More solutions for this book are available here

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miks Author

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Exactly what I needed for my project, TYSM

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