For Entry into a Particular Perfectly Competitive Industry to Occur,which

question 36

Multiple Choice

For entry into a particular perfectly competitive industry to occur,which of the following must be TRUE?

• A) Economic profit > Accounting profit > 0.
• B) Accounting profit > Economic profit > 0.
• C) Accounting profit > 0 > Economic profit.
• D) Accounting profit > Economic profit = 0.
• E) Accounting profit = Economic profit = 0.

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Definitions:

Ohmmeter

A device used to measure resistance.

Ammeter

An instrument used to measure the flow of current.

Voltmeter

An instrument used to measure a level of voltage.

Voltmeters

Instruments used to measure electrical potential difference between two points in an electric circuit.