When Free Entry Is One of the Attributes of a Market

question 36

Multiple Choice

When free entry is one of the attributes of a market structure, economic profits are:

• A) eventually driven to zero
• B) negative for all firms
• C) never above or below zero
• D) positive for all firms

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Definitions:

Highly Authoritarian

Describes a leadership or governance style characterized by strict obedience to authority at the expense of personal freedom.

Unethically

Acting in a manner that is contrary to moral principles, professional standards, or conduct expectations within a given context.

Thinking-Type Individuals

People who tend to make decisions based on logic and objective analysis rather than personal feelings or values.

Reason And Intellect

The faculties for thinking, reasoning, and applying knowledge to solve problems or understand complex ideas.