【单选题】Wiladee used to work as an officemanager, earning $25,000 per year. She gave up that job to start a tailoringbusiness. In calculating the economic profit of her tailoring business, the$25,000 income t...
【单选题】Nicole owns a small pottery factory. She can make 1,000 pieces of pottery per year and sell them for €100 each. It costs Nicole €20,000 for the raw materials to produce the 1,000 pieces of pottery. Sh...
【单选题】Suppose firms in a perfectly competitive market are earning an economic profit. As new firms enter, the price ________ and the economic profit of each existing firm ________.