In the Long Run Firms Will ________ as Long as There

question 311

Multiple Choice

In the long run firms will ________ as long as there are more economies of scale and new firms will enter the industry as long as they earn ________.

• A) expand; zero profits
• B) contract; positive economic profits
• C) contract; zero profits
• D) expand; positive economic profits

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Definitions:

Self-comparison

A psychological process where an individual compares themselves with others, affecting self-esteem and motivation.

Self-focus

A state of heightened self-awareness where an individual's attention is directed inwards towards their own thoughts, feelings, and behaviors.

Expectancy-value Theory

A psychological theory that states motivation is determined by a combination of one's belief in their ability to succeed and the value they place on the success.

Singer-songwriter

An artist who writes, composes, and performs their own musical material, including lyrics and melodies.