Suppose All Firms in an Industry Are Identical

question 58

Multiple Choice

Suppose all firms in an industry are identical.In the long run,entry and exit guarantee that all firms will have zero

• A) marginal cost.
• B) average cost.
• C) economic profit.
• D) accounting profit.

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Definitions:

Excisional Biopsy

A surgical procedure where an entire lump or suspicious area is removed for diagnostic examination.

Sentinel Lymph Node

The first lymph node to which cancer cells are likely to spread from a primary tumor, often used in surgeries to assess cancer spread.

Needle Biopsy

A minimally invasive procedure where a small sample of tissue is collected for examination using a needle.