Homework Answers
1) :- perfect competition is the market which derive economic profit zero in Long run.
• zero profit is also known as normal profit.
• when economic profit exist new firm attract toward it and economic loss lead to exist
• in long run perfect market earn zero economic profit.
2) :- marginal products is calculate dividing the change in total number of unit produced by change in single variable input .
So the right answer is D (80 ) it is marginal product of the fourth worker
• 260 -180=80 answer.
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