Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Judge the following statements:
( ) Economic profit will be always less than accounting profit.
( ) Changes in people´s income generate changes in the quantity demanded at certain level of prices, which means changes along the demand curve.
( ) A tax on a good or service creates the same deadweight loss for every good, regardless of the demand elasticity of those goods.
( ) In the long run, unlike monopolies, firms under monopolistic competition or perfect competition have zero profits.
( ) The trend we have seen in past years of people switching from SUV cars to more fuel-efficient or hybrid cars, even electric cars, is an example of how in the long run the demand for gas becomes more elastic than in the short run.
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