In the Transition from the Short Run to the Long

question 318

Multiple Choice

In the transition from the short run to the long run, the number of firms in a competitive industry is

• A)fixed.
• B)increasing at a constant rate.
• C)decreasing.
• D)able to adjust to market conditions.

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Definitions:

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A method used in statistical analyses where each member of a population has an equal chance of being included in the sample, ensuring the sample's representativeness.

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Industrial-Organizational Psychologist

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