One Difference Between the Short Run and the Long Run

question 178

Multiple Choice

One difference between the short run and the long run is that perfectly competitive firms

• A) always earn positive economic profit in the short run, but never in the long run.
• B) can earn positive, negative, or zero economic profit in the short run, but will earn zero economic profit in the long run.
• C) earn zero economic profit in the short run, but will earn positive economic profit in the long run.
• D) always earn more economic profit in the long run.

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Definitions:

Personal References

Individuals who can provide a personal account of an applicant's character, abilities, and experiences, usually requested during the hiring process.

Integrity Tests

Employment tests that measure an applicant’s honesty and trustworthiness.

Honesty and Trustworthiness

Key moral attributes expected in interpersonal and professional relationships, signifying integrity and reliability.

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A condition characterized by the compulsive use of drugs despite adverse health, social, or legal consequences, typically involving physiological and psychological reliance.