When Firms in a Competitive Market Are Experiencing Zero Economic

question 43

Multiple Choice

When firms in a competitive market are experiencing zero economic profits,this is an indication that

• A)They should be producing a different product.
• B)There is currently no better way to use society's scarce resources.
• C)They will eventually go bankrupt.
• D)Accounting losses are being experienced by these firms.

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Definitions:

Fraternal Twin

Siblings born at the same time who have developed from two different eggs fertilized by two different sperm cells, making them genetically unique from each other.

Hemophilia

An X-linked chromosomal disorder involving abnormal blood clotting.

Blood Clot

A mass formed by the coagulation of blood in response to injury or a medical condition, which can impede blood flow.

Dominant Inheritance

A genetic principle in which an allele expresses its phenotype even in the presence of a recessive allele.