The Representative Firm in a Purely Competitive Industry

question 65

Multiple Choice

The representative firm in a purely competitive industry

• A)will always earn a profit in the short run.
• B)may earn either an economic profit or a loss in the long run.
• C)will always earn an economic profit in the long run.
• D)will earn zero economic profit in the long run.

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Definitions:

Compacting Database

The process of reorganizing a database to reclaim unused space and optimize performance.

Save Database

The action of writing changes or updates to a database file on disk, ensuring that all modifications are permanently stored.

Table Design View

A feature in database software that allows users to define the structure of a table including its fields, data types, and primary keys.

Table Design View

A feature in database applications that allows users to define or modify the structure of a table, including fields, data types, and relationships.