It Is Possible for Firms in a Competitive Market to Earn

question 190

True/False

It is possible for firms in a competitive market to earn positive accounting profits in the long-run.

---

Definitions:

Adrenaline

A hormone and neurotransmitter, also known as epinephrine, released in response to stress, increasing heart rate, blood flow, and energy release.

Limbic Structure

A complex system of nerves and networks in the brain, involving several areas near the edge of the cortex concerned with instinct and mood. It controls the basic emotions and drives.

Anger

A strong feeling of annoyance, displeasure, or hostility.

Multiple Sclerosis

A chronic autoimmune disease that affects the central nervous system, leading to demyelination, inflammation, and often, neurological disabilities.