In a long-run competitive equilibrium, a restaurant owner who is just willing to continue operations and remain an active competitor will earn an economic profit equal to O A. marginal revenue. B. zero. OC. total revenues minus total explicit costs. OD. the number of units sold times the price of the product.

In a long-run competitive equilibrium, a restaurant owner who is just willing to continue operations and remain an active competitor will earn an economic profit equal to O A. marginal revenue. B. zero. OC. total revenues minus total explicit costs. OD. the number of units sold times the price of the product.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 11E

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