an economy is made up of a large number of identical firms producing identical products with...
an economy is made up of a large number of identical firms producing identical products with same cost curves. The firms all make the same positive accounting profits. therefore their economic profits must be a)positive b)negative c)Zero d) cant say for sure
Homework Answers
Answer
Option d
d) can't say for sure
In the long run, it should be zero but in the short-run can't say for sure as the question does not provide information for the short run or long run so it can not be said.
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