In the Long Run, Which of the Following Most Likely

question 83

Multiple Choice

In the long run, which of the following most likely results in positive economic profits?

• A)Competition
• B)Pure competition
• C)Monopoly
• D)Monopolistic competition
• E)A price-taker

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Definitions:

Ottoman Empire

A vast, multi-ethnic empire founded in the late 13th century by Osman I, which at its peak spanned Southeast Europe, Western Asia, and North Africa before its dissolution after World War I.

Three-Field System

An agricultural practice where farmland was divided into three sections, with different crops rotated annually to manage soil fertility.

Fertility

The natural capability to produce offspring, a significant factor in population dynamics and individual reproductive health.

Unplanted

Not sown with seeds or not having plants introduced into the ground or an area intended for cultivation.