If a competitive industry is neither expanding nor contracting, we would expect:
A. normal profits to be zero.
B. economic profits to be zero.
C. consumer demand and derived demand to be equal.
D. external costs or benefits to be large.
Answer:B
If a competitive industry is neither expanding nor contracting, we would expect:
A. normal profits to be zero. B. economic profits to be zero. C. consumer demand and derived demand to be equal. D. external costs or benefits to be large.