When a Profit-Maximising Firm in a Competitive Market Has Zero

question 50

Multiple Choice

When a profit-maximising firm in a competitive market has zero economic profit, accounting profit:

• A)is positive
• B)is negative (accounting losses)
• C)is also zero
• D)could be positive, negative or zero

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Definitions:

Few Turns

A term referring to a small number of windings in a coil or transformer, which affects the inductance, resistance, and other electrical characteristics.

Small Wire

A thin, flexible strand of metal used to conduct electricity, often characterized by a small gauge or diameter.

Lap-wound

A winding method for electrical machinery where the coil is wound in such a way that it overlaps itself, commonly used in armatures.

Wave-wound

A type of armature winding in electrical engineering where coils are connected in series to form a continuous and closed circuit, resembling a wave pattern.