25. An economic profit of zero is _______ the firm. A) not acceptable to B) acce

Question

25. An economic profit of zero is _______ the firm.
A) not acceptable to
B) acceptable to
C) disastrous to
D) sought after by
27. Economic profit in long-run equilibrium in perfect competition will be:
A) less than accounting profit.
B) equal to accounting profit.
C) greater than accounting profit.
D) negative.
30. A monopoly is likely to _______ and _______ than otherwise equivalent competitive firms.
A) produce more; charge more
B) produce less; charge more
C) produce more; charge less
D) produce less; charge less

Explanation / Answer

A) not acceptable to A) less than accounting profit. B) produce less; charge more

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