Economic profits are guaranteed for: Select one: a. a monopoly, but not a perfectly competitive firm. b. a perfectly competitive firm, but not a monopoly. c. both a monopoly and a perfectly competitive firm. d. neither a monopoly nor a perfectly competitive firm.

Popeye produces 20 cans of spinach in 8 hours. wimpy produces 15 hamburgers in 10 hours. if each hamburger trades for 1.5 cans of spinach, then: a.wimpy’s production and productivity are greater than popeye’s. b.popeye’s production is greater than wimpy’s, but his productivity is less. c.wimpy’s production is greater than popeye’s, but his productivity is less. d.popeye’s production and productivity are greater than wimpy’s.