This profit-maximizing/loss-minimizing firm is: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a incurring an economic loss of $500 in the short run. b earning an economic profit of $200 in the short run. c earning an economic profit of $300 in the short run. d earning a normal profit (zero economic profit) in the short run.

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?