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

question 372

Multiple Choice

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

• A)is negative.
• B)is at least zero.
• C)is also zero.
• D)could be positive, negative or zero.

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Definitions:

Loading Dock

An area of a building where goods are loaded onto and unloaded from vehicles or ships.

Properly Identified

Accurately recognized or distinguished from others based on specific characteristics or criteria.

Tender

To offer to turn goods over to a buyer.

Warehouse

A building or structure in which any goods, but particularly wares or merchandise, are stored.