80 72 3 56 PRICE (Dollars per pound) 13 48 40 z 16 0 Q 0 Demand 0 20 D True > 4 False > ✓ 0 Ο Δ D 4 O A Δ 0 120 240 360 480 600 720 840 960 1080 1200 QUANTITY (Thousands of pounds) Screen Shot 2023-02-21 at 8.23.43 PM Supply (10 firms) Supply (20 firms) If there were 30 firms in this market, the short-run equilibrium price of ruthenium would be would earn a positive profit . Therefore, in the long run, firms would enter Supply (30 firms) D ® Q Search Because you know that competitive firms earn zero ▾ economic profit in the long run, you know the long-run equilibrium price must be $52 per pound. From the graph, you can see that this means there will be 30 firms operating in the ruthenium industry in long-run equilibrium. $40 per pound. At that price, firms in this industry the ruthenium market. True or False: Assuming implicit costs are positive, each of the firms operating in this industry in the long run earns negative accounting profit. If there were 30 firms in this market, the short-run equilibrium price of ruth would earn a positive profit. Therefore, in the long run, firms would Becau earn a positive profit titive firms earn zero economic pro e graph, you can see that this means there wi shut down operate at a loss earn zero profit equilib True o Screen Shot 2023-0 it costs are positive, each of the firms operati If there were 30 firms in this market, the short-run equilibrium price of ruth would earn a positive profit. Therefore, in the long run, firms would Because you know that competitive firms earn zero economic pro $52 per pound. From the graph, you can see that this means there w equilibrium. Because you know that competitive firms earn zero $52 per pound. From the graph, you can equilibrium. True or False: Assuming implicit costs are posit If there were 30 firms in this market, the short-run equilibrium price of ruthenium w would earn a positive profit. Therefore, in the long run, firms would Screen Shot 2023- Screen Shot 2023-02-2 True zero positive negative economic profit in the means there will be 30 the firms operating in thi Screen Shot 2023-02-2 C Because you know that competitive firms earn zero economic profit in t $52 per pound. From the graph, you can see that this means there will be equilibrium. True or False: Assuming implicit costs are positive, each of the firms operating in