Which of the Following Statements Is Not True in a Perfectly

question 30

Multiple Choice

Which of the following statements is not true in a perfectly competitive industry in long-run equilibrium?

• A)A profit-maximizing firm may produce any output level at which P < LRAC.
• B)Every firm produces at an output level at which MC = LRAC.
• C)There is no entry or exit from the industry.
• D)No firm earns an economic profit.

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Definitions:

Television Shows

Serialized audio-visual content produced for entertainment, information, or education, broadcasted on television.

Symbolic Interactionist

A sociological perspective focusing on how individuals interact based on the meanings they assign to objects, events, and behaviors.

Post-structuralist

A theoretical approach that challenges traditional structures, categories, and concepts, emphasizing the complexity and fluid nature of societies and texts.

Mainstream Television Shows

Television programming that is widely popular and accessible to a large audience, often reflecting or shaping societal norms and values.