If the short-run supply curve and the demand curve intersect below the long-run supply curve,firms will experience ________ economic profits,meaning the price is ________ the minimum point on the average total cost curve.
A) positive; above
B) positive; below
C) negative; above
D) negative; below
E) zero; above
Correct Answer:
Verified
Q102: Signals
A) have no importance in economics.
B) convey
Q103: If the short-run supply curve,the demand curve,and
Q104: Refer to the accompanying figure to answer
Q105: A good economist will ignore _ and
Q106: A perfectly competitive industry's short-run supply curve
Q108: Refer to the accompanying figure to answer
Q109: Refer to the accompanying figure to answer
Q110: Sunk costs
A) should be taken into consideration
Q111: Refer to the following figure to answer
Q112: The city of Tustin,California,has spent $10 million
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