In a Perfectly Competitive Market, the Process of Entry and Exit

question 192

Multiple Choice

In a perfectly competitive market, the process of entry and exit will end when firms face

• A)marginal revenue equal to long-run average total cost.
• B)total revenue equal to average total cost.
• C)average revenue greater than marginal cost.
• D)accounting profits equal to zero.

---

Definitions:

Elaborative Rehearsal

A memory technique that involves thinking about the meaning of the term to be remembered, as opposed to simply repeating the word to oneself.

Episodic Memories

Memories of specific events or experiences, including the contexts in which they occurred, that can be explicitly stated or conjured.

Retrograde Amnesia

A form of amnesia where individuals are unable to recall events that occurred before the onset of the amnesia.

Brain Damage

Physical or functional damage to the brain, potentially affecting cognitive, physical, emotional, or behavioral functions.