Use the Following to Answer Question

question 213

Multiple Choice

Use the following to answer question:
Figure: The Market for Gas Stations
-(Figure: The Market for Gas Stations) Use Figure: The Market for Gas Stations.This market is characterized by many firms,differentiated products,easy entry,and easy exit.In long-run equilibrium,the economic profit earned by the typical gas station will be:

• A)equal to the level shown in the figure.
• B)negative.
• C)zero.
• D)Not enough information is given to answer the question.

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Definitions:

Positive Activities

Actions or pursuits that contribute to well-being and happiness, often involving physical, mental, or social engagement.

Self-confidence

The state of trust in one's abilities, qualities, and judgment.

Budget Period

A specific timeframe, usually a fiscal year or quarter, within which financial planning and expenditure occur.

Payroll Deductions

The amounts withheld from an employee's salary by the employer, covering taxes, insurance premiums, and other designated expenses.