In Which of the Following Market Structures Can Firms Earn

question 216

Multiple Choice

In which of the following market structures can firms earn economic profits in the long run?

• A)perfect competition
• B)monopolistic competition
• C)monopoly
• D)Both b and c are correct.

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Definitions:

Hypersecretion

The excessive production and release of hormones or other substances from a gland or organ.

Glucocorticoids

A class of steroid hormones produced by the adrenal gland, involved in the regulation of metabolism and immune response.

Immune Response

The reaction of the body's immune system to foreign substances or pathogens, including the production of antibodies and other defense mechanisms.

Adrenal Medullary Hormones

Hormones secreted by the inner part of the adrenal glands, including adrenaline and noradrenaline, which play a role in the body's stress response.