Which of the Following Is a Condition of Long-Run Competitive

question 101

Multiple Choice

Which of the following is a condition of long-run competitive equilibrium?

• A)There are incentives for firms to enter the industry.
• B)There are incentives for firms to exit the industry.
• C)There is no incentive for firms to enter or exit the industry.
• D)There are incentives for firms to produce more output.
• E)There are incentives for firms to change plant size.

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Definitions:

Retrieval Practice

A study method that involves actively recalling information from memory, enhancing and solidifying learning.

Self-Testing

A study method where learners test their own knowledge or skills in order to enhance retention and understanding.

Previously Learned

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Providing an explanation and clarifications to participants following an experiment or study, especially about any deception involved.