​In the Long Run, If We Observe Firms in a Competitive

question 230

True/False

​In the long run, if we observe firms in a competitive market earning economic profits, we know that this market is in long-run equilibrium.

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Cones

Geometric shapes that have a circular base and a single vertex.

Night Vision

The ability to see in low-light conditions.

Fine Detail

The intricate and precise features or aspects of something, often requiring close inspection or careful attention to be appreciated or understood.

Olfactory Genes

Genes that encode for proteins involved in the sense of smell, critical for the detection of odor molecules.