Family Mart like inner city grocery stores, sometimes exist even though they do not earn economic profits. How can you explain this?It is clear that businesses operate in the short run, but do they ever operate in the long run? Discuss.What are the different type of costs incurred in the short run and in the long run?

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Family Mart like inner city grocery stores, sometimes exist even though they do not earn economic profits. How can you explain this?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter8: Business Organizations

Section: Chapter Questions

Problem 9AA

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Family Mart like inner city grocery stores, sometimes exist even though they do not earn economic profits. How can you explain this?
It is clear that businesses operate in the short run, but do they ever operate in the long run? Discuss.
What are the different type of costs incurred in the short run and in the long run?

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