In the Long Run, an Oligopolist Is Most Likely to

question 59

Multiple Choice

In the long run, an oligopolist is most likely to

• A) Experience economic profits because of barriers to entry.
• B) Experience zero economic profits because barriers to entry do not exist in the long run.
• C) Produce at the most technically efficient output level due to long-run competition.
• D) Face a straight demand curve.

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Definitions:

Right Ventricle

The right ventricle is one of the four chambers of the heart, responsible for pumping deoxygenated blood to the lungs.

Left Ventricle

The chamber of the heart that pumps oxygenated blood out through the aorta to circulate throughout the body.

Interventricular Septum

The thick wall separating the lower chambers (ventricles) of the heart, preventing oxygen-rich and oxygen-poor blood from mixing.

Chordae Tendineae

Heart strings, or tendinous cords, that connect the papillary muscles to the tricuspid valve and the mitral valve in the heart, preventing inversion.