Which of the Following Is Not True in the Long-Run

question 1

Multiple Choice

Which of the following is not true in the long-run?

• A) There are no variable costs.
• B) There are no fixed costs.
• C) Total costs equal variable costs.
• D) Identical firms will make zero profits.

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Definitions:

Symbolic Interactionism

A sociological perspective focusing on the importance of symbols and meaning in human interaction, emphasizing how personal identity is shaped through social interactions.

Structural Functionalism

An approach in sociology and anthropology which interprets society as a structure with interconnected parts designed to maintain its stability and functionality.

Conflict Perspective

A theory in sociology that views social life as a competition and conflict between groups for resources and power.

Biological Body

The physical and biological aspects of an organism, encompassing its physical structures and physiological systems.