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:

Disbursements

Financial payments made by a business, including cash expenditures, payments on debts, or distribution of dividends.

Beginning Balance

The amount of money in a given account at the start of a financial period.

Petty Cash Fund

A small amount of cash kept on hand for making immediate, minor expenditures.

Journal Entries

The recordation of financial transactions in a company's accounting system, typically involving a debit and credit entry.