g The representative firm in a purely competitive industry Multiple Choice may earn either an economic profit or a loss in the long run. will earn zero economic profit in the long run. will always earn a profit in the short run. will always earn an economic profit in the long run.

Consumer surplus is: the difference between the price of a product and what consumers were willing to pay for the product. the difference between the discounted price of a product and its retail price. the difference between the price paid by consumers and the price required of producers. the difference between the price of a product and consumers' valuation of the last unit of the product purchased.

What are six resources for you decide which type of business to start and how to start it?

Suppose that the free states of eldricia, a small nation, has consumption, investment, government purchases, imports, and exports as follows. consumption $140 investment $50 government purchases $45 imports $30 exports $15 calculate the free states of eldricia's gdp