Which of the Following Is Not Necessarily True in the Long

question 61

Multiple Choice

Which of the following is not necessarily true in the long for a competitive industry?

• A) Firms earn zero profits.
• B) Firms set MC = MR.
• C) A firm will not produce if the market price is less than their break-even price.
• D) The long-run supply curve is more elastic than the short-run supply curve.

---

Definitions:

Personal Commitment

An individual's dedication or promise to pursue a specific course of action or uphold certain values.

Relationship-motivated

Being driven by the desire to build and maintain meaningful connections with others, often prioritizing interpersonal relationships over task accomplishments.

Ohio State University

Ohio State University is a large, public research university located in Columbus, Ohio, known for its diverse programs and contributions to research and education.

High Structure

An organizational setup characterized by clear hierarchies, defined roles, and strict rules and procedures.