Question: Think outside the box and text, etc., in your response to the following: Set forth an example of one fixed cost that may very well

Think outside the box and text, etc., in your response to the following: Set forth an example of one fixed cost that may very well remain fixed over the long run, and explain why it is a long run fixed cost.

Explain why economic profit for perfectly competitive firms is equal to zero in the long run?

In the real world, there are actually no such things as perfectly competitive markets.Is this a good thing or a bad thing for economic prosperity?Explain

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!