Which of the Following Is True for a Perfectly Competitive

question 53

Multiple Choice

Which of the following is true for a perfectly competitive agricultural market with economic profits?

• A)Firms will enter and existing firms will increase their production until economic profits are zero.
• B)The profits will last indefinitely since there are barriers to entry.
• C)Firms will exit until normal profits are zero.
• D)No entry or exit will occur based on economic profits.

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Definitions:

Dietary Restrictions

Specific guidelines or limitations on what an individual can eat, often due to health concerns, religious beliefs, or personal choice.

Cigarette Smoking

The act of inhaling and exhaling the smoke produced by burning tobacco contained in cigarettes, which is harmful to health.

Surgery

A branch of medicine that involves the treatment of injuries, diseases, and other conditions by manual and instrumental techniques, often involving cutting into the body.

Specialty Practice

A medical practice focused exclusively on a particular branch of medicine or a specific type of patient care.