If the Short-Run Supply Curve,the Demand Curve,and the Long-Run Supply

question 10

Multiple Choice

If the short-run supply curve,the demand curve,and the long-run supply curve all intersect at the same point,firms will experience ________ economic profits,which means the price is ________ the minimum point on the average total cost curve.

• A) positive; above
• B) zero; at
• C) negative; below
• D) negative; at
• E) zero; above

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Definitions:

Shareholders

Individuals or institutions that legally own one or more shares of stock in a public or private corporation, giving them a share of ownership in the company.

Lag Measure

A performance indicator that shows the output of efforts, often revealing the success or failure of an initiative after it has been implemented.

Succession Management

A strategic process to identify and develop potential leaders within an organization to fill key positions.

External Coaches

Professional advisors hired from outside an organization to provide personalized coaching and development services to its employees.