ademic In
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Educating the world for a better change
,WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore, the documents provided here including past assignments, tests
and notes are intended SOLELY for educational purposes and as a guide to help
students understand academic concepts and improve their writing skills. These
materials should not be submitted as final work, as doing so may constitute academic
dishonesty. Students are encouraged to use them as reference points, develop their
own understanding and produce original work that reflects their knowledge and critical
thinking. Students are also encouraged to regenerate their own (personalized)
solutions paying particular attention to module contents as prescribed by module
facilitators, lecturers and supervisors. If this document is plagiarized by the users and
fails, ELITE ACADEMIC INSTITUTE should not be rendered accountable since the
contents in this document only give learners a kick-start on what is expected of them
from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE ALL THE INFORMATION IN
THIS DOCUMENT IN WRITING THEIR ASSIGNMENTS
Educating the world for a better change
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Question 1
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Which statement is true of firms in the long run?
a. All of the options are correct.
b. Firms can have many different sizes if the long-run supply curve is horizontal.
c. None of the firms will be making economic profits.
d. If economies of scale and diseconomies of scale exist, firms will all be the same
size.
Clear my choice
Question 2
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Educating the world for a better change
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If accounting profits are positive and economic profits are negative in the long run,
the proper strategy is to ...
a. go back and recalculate figures, because accounting profits can never be more
than economic profits.
b. close down the business and shift the resources to more profitable ventures.
c. monitor the situation closely and leave the business the minute accounting profits
start to decline.
d. feel satisfied because, in the long run, accounting profits will average zero.
Question 3
Answer saved
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Question text
Educating the world for a better change
Ac sti
te
tu
Eli
te
he
de
W
re a
G ra eM
d u a te s Ar
Educating the world for a better change
,WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore, the documents provided here including past assignments, tests
and notes are intended SOLELY for educational purposes and as a guide to help
students understand academic concepts and improve their writing skills. These
materials should not be submitted as final work, as doing so may constitute academic
dishonesty. Students are encouraged to use them as reference points, develop their
own understanding and produce original work that reflects their knowledge and critical
thinking. Students are also encouraged to regenerate their own (personalized)
solutions paying particular attention to module contents as prescribed by module
facilitators, lecturers and supervisors. If this document is plagiarized by the users and
fails, ELITE ACADEMIC INSTITUTE should not be rendered accountable since the
contents in this document only give learners a kick-start on what is expected of them
from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE ALL THE INFORMATION IN
THIS DOCUMENT IN WRITING THEIR ASSIGNMENTS
Educating the world for a better change
,Start here
Question 1
Not yet answered
Marked out of 2.00
Flag question
Question text
Which statement is true of firms in the long run?
a. All of the options are correct.
b. Firms can have many different sizes if the long-run supply curve is horizontal.
c. None of the firms will be making economic profits.
d. If economies of scale and diseconomies of scale exist, firms will all be the same
size.
Clear my choice
Question 2
Not yet answered
Educating the world for a better change
, Marked out of 2.00
Flag question
Question text
If accounting profits are positive and economic profits are negative in the long run,
the proper strategy is to ...
a. go back and recalculate figures, because accounting profits can never be more
than economic profits.
b. close down the business and shift the resources to more profitable ventures.
c. monitor the situation closely and leave the business the minute accounting profits
start to decline.
d. feel satisfied because, in the long run, accounting profits will average zero.
Question 3
Answer saved
Marked out of 2.00
Flag question
Question text
Educating the world for a better change
