Identify the Market in the Following List Where Economic Profit

question 73

Multiple Choice

Identify the market in the following list where economic profit is driven to zero in the long run:

• A)oligopoly
• B)monopoly
• C)common resource
• D)perfect competition

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Definitions:

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Punch Recipe

A set of instructions for making a large, usually sweet and fruity drink intended to serve multiple people.

Ginger Ale

A carbonated soft drink flavored with ginger, often used as a mixer in cocktails or consumed on its own for its taste and digestive benefits.

Ratio

A quantitative relationship between two numbers showing how many times the first number contains the second or vice versa.