new help with homework, want to verify my anwsers are correct. In additon understanding. Thank you
Figure 10-4 shows the industry's supply and
a. shut down.
b. incurring losses.
c. earning zero economic profits.
d. earning economic profit greater than zero.
Figure 10-4 shows the industry's supply and demand curves in panel (1) and the cost curves of a firm in the industry in panel (2). At S2, the firm is
a. shut down.
b. incurring losses.
c. earning zero economic profits.
d. earning economic profit greater than zero.
Figure 10-4 shows the industry's supply and demand curves in panel (1) and the cost curves of a firm in the industry in panel (2). At S3, the firm is
a. shut down.
b. incurring losses.
c. earning zero economic profits.
d. earning economic profit greater than zero.
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