What does zero economic profits in the long-run mean to the owner of a business operating in a perfect competitive market

microeconomics . This firm will maximize profit by producing at output level:  (pick the correct letter) f     g h j

For a perfectly competitive firm to operate and produce an output level in the short-run, the firm's Price must be greater than, or equal to, what cost for the firm?

If a firm in a perfectly competitive market maximizes short-run profits by producing some quantity of output, which of the following must be true at that level of output?

What is the most important decision a perfectly competitive firm must make in order to maximize profit? what quantity to produce what price to charge what quality to produce what quantity of labor is needed

A perfectly competitive firm produces the level of output at which MR=MC on the rising portion of the firm’s marginal cost curve. At that output level, it has the following costs and revenues:             TC = $830,000             VC = $525,000             TR = $428,000   Given that the firm produces the level of output at which MR=MC, calculate the amount of profit (loss) this firm earns. is it Profit=TR-TC?

In the short run, if a perfectly competitive firm chooses to produce, then its profits are maximized by producing the quantity of output where marginal cost equals marginal revenue. True False

What prevents a perfectly competitive firm from seeking higher profits by increasing the price that it charges?

Microeconomics

In a perfectly competitive market all producers sell