--%>

Earn zero profit in long run by perfectly competitive firms

Which of the given statements is right?: w) Economic profit takes within account all costs involved within producing a product. x) Accounting profit is not relevant within preparing the firm's financial statement. y) Economic profit all the time exceeds accounting profit. z) Accounting profit is similar as economic profit.

Can someone explain/help me with best solution about problem of economic...

   Related Questions in Public Economics

  • Q : Explain about the payments to

    The payments to entrepreneurs are the: (i) interest earned by saving money and managing main corporations. (ii) rental payments by extensive land holdings. (iii) profits occurrence from bearing uncertainty and risk, innovating new goods and technologi

  • Q : Problem on violating someone rights Can

    Can someone help me in finding out the right answer from the given options. Fee simple property rights do not permit private owners to: (1) Deny utilization of their goods to others. (2) Trade such rights with other people. (3) Employ goods in manner

  • Q : Changes in relative prices make

    Changes in relative prices make easy allocative efficiency through operating like a rationing mechanism while: (i) Ken and Barbie postpone their wedding since they both lost their jobs throughout a recession. (ii) Political instabilit

  • Q : Circular flow models of markets I have

    I have a problem in economics on Circular flow models of markets. Please help me in the following question. In a simple circular flow model of markets, the eventual ‘owners’ of all labor and non-labor resources are classified as: (i) Emplo

  • Q : Illustration of Opportunity Cost How

    How can I solve my economics problems? Please suggest me the accurate answer. Harry Homeowner pays three hundred dollar monthly upon a mortgage within a neighbourhood where matching houses rent for eight hundred dollar per month. T

  • Q : Better off and worse off condition in

    When an economic change creates one person better off and a thousand persons worse off, this is: (w) good for society. (x) bad for society. (y) neither good nor bad for society. (z) not possible to assess without a value judgment.

  • Q : Opportunity costs in alternate activity

    Why is this probably precise to believe that you can believe of nothing better to do along with your time immediately than to study economics?

  • Q : Explain about the Economic Model

    Economic models are most generally based upon: (i) specification of all interdependencies among all relevant economic variables. (ii) “other things equal” assumptions. (iii) equations which specify how to maximize financial profits. (iv) a

  • Q : Which principle is simplest workable

    The principle which the simplest workable theory is also the fine is termed as: (i) positive analytics. (ii) minimalism. (iii) Occam's razor. (iv) simple-mindedness. (v) hypothesis testing. I need a good answer on the topic of

  • Q : Illustration of a positive scientific

    An illustration of a positive scientific statement would be which college graduates who: (i) create higher incomes than high school drop outs deserve that higher income. (ii) charge victims of hurricanes as well as other natural disasters outrageous prices must be sho