In the Long Run Firms Will ________ as Long as There

question 311

Multiple Choice

In the long run firms will ________ as long as there are more economies of scale and new firms will enter the industry as long as they earn ________.

• A) expand; zero profits
• B) contract; positive economic profits
• C) contract; zero profits
• D) expand; positive economic profits

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Definitions:

Write Down Everything

The practice of noting or recording all details or pieces of information, especially in a learning or observational context.

Task Word

A word that signifies the type of action or response required in an assignment or test question.

Always

At all times; on all occasions, indicating consistency or continuity.

Predict

To make a statement about what will happen in the future based on past experience or evidence.