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When an economist says that a firm is earning zero economic profit, this implies the firm will have to declare bankruptcy in the near future, unless market conditions change

Economics

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When an economist says that a firm is earning zero economic profit, this implies the firm will have to declare bankruptcy in the near future, unless market conditions change. True O False
In the short run, a firm in a competitive price-searcher market produces at the point where price is equal to average total cost. True False
An downward-sloping portion of a long-run average total cost curve is the result of diseconomies of scale. True False
In a free market economy, competitive provides firms with a strong incentive to avoid developing improved products and discovering lower cost methods of production True False