In a Perfectly Competitive Market That Is in Long-Run Equilibrium

question 378

Multiple Choice

In a perfectly competitive market that is in long-run equilibrium, which of the following will NOT occur?

• A) Firms make only zero economic profit.
• B) Firms' owners earn a normal profit.
• C) The price equals the minimum average total cost.
• D) Entrepreneurs want to enter this industry.

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Definitions:

Societal Gender Norms

The expectations and roles imposed by society based on an individual's perceived or assigned gender.

Sexual Dimorphism

The distinction between two sexes within the same species, expressed through differences in physical characteristics not directly related to reproductive organs.

Gender Dysphoria

The distress or discomfort that occurs when there is a discrepancy between an individual’s gender identity and the sex they were assigned at birth.

Biological

Pertaining to the science of life or living matter in all its forms and phenomena, especially with reference to origin, growth, reproduction, structure, and behavior.