When a competitive industry is in equilibrium:
A. economic profit will be zero.
B. product demand and derived demand are equal.
C. the economizing problem will have been solved for that industry.
D. normal profit will not be realized.
Answer:A
When a competitive industry is in equilibrium:
A. economic profit will be zero. B. product demand and derived demand are equal. C. the economizing problem will have been solved for that industry. D. normal profit will not be realized.