Question
(1) The industry long-run supply curve is more elastic that the industry short-run supply curve. (2) Accounting profit is generally higher than economic profit. What
(1) The industry long-run supply curve ismore elasticthat the industry short-run supply curve.
(2) Accounting profit is generallyhigherthan economic profit.
What istrue?
a.only (1)
b.only (2)
c.both (1) and (2)
d.neither (1) nor (2)
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Managing in a Global Economy Demystifying International Macroeconomics
Authors: John E. Marthinsen
2nd edition
128505542X, 978-1305176157, 1305176154, 978-1285055428
