In Long-Run Competitive Equilibrium, a Firm That Owns Factors of Production

question 164

Multiple Choice

In long-run competitive equilibrium, a firm that owns factors of production will have an:

• A) economic profit = $0 and accounting profit > $0.
• B) economic profit > $0 and accounting profit = $0.
• C) economic and accounting profit = $0.
• D) economic and accounting profit > $0.
• E) economic and accounting profit can take any value.

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Definitions:

Drag

The action of clicking and holding a digital object and moving it to a different location on the screen.

Auto Theft

The unlawful activity of taking or trying to take a motor vehicle without permission.

Carjacking

The act of violently stealing an occupied vehicle, usually involving threats or force against the driver.

Property Crime

Crimes that involve the theft of property or money without the use of force against victims.