In the Long Run, a Perfectly Competitive Firm Can

question 33

Multiple Choice

In the long run, a perfectly competitive firm can

• A) only make an economic profit.
• B) only make zero economic profit.
• C) only incur an economic loss.
• D) make an economic profit, make zero economic profit, or incur an economic loss.

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Definitions:

Group Of Bits

A collection of binary digits (bits) treated as a single unit in digital computing and communications.

Input

Information transmitted from a peripheral device to the input module and then to the data table.

Output

The result or data produced by a system or process, often sent to a display, storage device, or another system component.