Which of the Following Conditions Is True of a Perfectly

question 42

Multiple Choice

Which of the following conditions is true of a perfectly competitive industry when it is in long- run equilibrium?

• A) Accounting profits for all firms are zero.
• B) Firms are exiting the industry.
• C) Price equals minimum short- run average total cost for all firms.
• D) Firms are entering the industry.
• E) Firms are experiencing increasing returns to scale.

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Definitions:

Human Society

is a complex system of individuals who live together in communities and develop shared institutions, traditions, values, and systems of organization.

Treadmill of Production

A critical concept in environmental sociology that describes the continuous and unsustainable economic growth and resource exploitation inherent in capitalist societies.

Ecological Modernization

An environmental perspective advocating for the potential of technological advances and institutional changes to address ecological crises without abandoning capitalist growth.

Ecofeminism

An activist and academic movement that combines ecological concerns with feminist perspectives, highlighting the connection between the oppression of women and environmental degradation.