Question

Why do competitive firms stay in business if they make zero profit?

Answer 1

Answer:

Profit equals total revenue minus total cost. Total cost includes all the opportunity costs of the firm. In the zero-profit equilibrium, the firm's revenue compensates the owners for the time and money they expend to keep the business going.

Explanation:

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Answer 2

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Profit equals total revenue minus total cost. Total cost includes all the opportunity costs of the firm. In the zero-profit equilibrium, the firm's revenue compensates the owners for the time and money they expend to keep the business going.