Short-Run Perfectly Competitive Equilibrium Is Defined As

question 41

Multiple Choice

Short-run perfectly competitive equilibrium is defined as:

• A)the market price and quantity at which quantity demanded equals quantity supplied in the short term.
• B)the output level and price where all firms in the market are profit maximizing.
• C)the point at which all firms earn zero profits.
• D)the point where there is no incentive to enter the market.

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Definitions:

Paying

The act of disbursing or settling a financial obligation.

Term Deposit

A type of bank deposit that is held at a financial institution for a fixed term or period of time, often yielding higher interest rates.

Matures

Refers to the final payment date of a financial instrument at which point the principal (and all remaining interest) is due to be paid.

Days

A unit of time measurement that typically represents a 24-hour period.