Positive economic profit and accounting profit

Purely competitive equilibrium, in long-run firms normally experience positive accounting profit and economic profit which is: (w) also positive, but smaller. (x) zero. (y) negative, but barely that why. (z) either positive, zero, or negative.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Define Producers Equilibrium Producer’s

Producer’s Equilibrium: A producer (or a firm) is said to be in equilibrium whenever it earns maximum gains. Profit maximization of a firm signifies maximizing the difference between total cost and total revenue. Whenever the gains of the firm a

Q : Competitive Markets-Unions of labor Can

Can someone please help me in finding out the accurate answer from the following question? The purely competitive labor markets are not characterized through: (w) Most of the individual buyers and sellers of the labor services. (x) Wages equivalent to the marginal res

Q : Firms supply curve in short run

Describe firm’s supply curve in short run, operating in perfect competition? Answer: It is a MC curve of the firm beginning from a point where MC = AVC (that is, minimum).

Q : Idea of low price elasticity of demand

Purposes for the very low price elasticity of demand for salt do not comprise the fact such that this: (w) has few good substitutes. (x) is currently relatively low priced. (y) absorbs only small percentages of most household budgets. (z) is sodium ch

Q : Occurrence of the price discrimination

Price discrimination occurs when a good is: (1) priced by a formula yielding monopoly profit. (2) denied to customers who refuse to pay the going price. (3) sold at different prices not reflecting differences in costs. (4) subject to government price

Q : Define fixed cost Fixed cost : Fixed

Fixed cost: Fixed costs refer to cost that remains constant as output modifies. For example: rent

Q : Primary claimants to the firms income

I have a problem in economics on Primary claimants to the firm’s income stream. Please help me in the following question. Primary claimants to the firm’s income stream would be least probable to comprise: (i) Entrepreneurs or owners of general stock. (ii)

Q : Shift responsibility for all flawed

Can someone please help me in finding out the accurate answer from the following question. The directors of garage sales may attempt to shift the responsibility for all the flawed purchases to buyers by posting signs which state: (i) No trespassing. (ii) Carpe diem. (

Q : Define Marginal Cost or MC Define

Define Marginal Cost and also its functions?

Q : Burden of tax reduce solely on

The burden of an excise (i.e., per unit) tax would reduce solely upon suppliers of the taxed good within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

Discover Q & A

Leading Solution Library

Avail More Than 1445284 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1961141
Asked

3,689

Active Tutors

1445284

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment