there will be no economic profits in either the short run or the long run.
economic profits may persist in the long run if consumer demand is strong and stable.
there may be economic profits in the short run, but not in the long run.
there may be economic profits in the long run, but not in the short run.
This question was asked on Mar 17, 2010.
Recently Asked Questions
- Please refer to the attachment to answer this question. This question was created from HyperCase Experience 8.
- https://www.coursehero.com/load_question_attachment.php?q_att_id=2743703&thread_id=35746767 In the answered question above, where does the calculation for the
- An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 51 hours during the week, determine