Which of the Following Is Not a Condition of Long-Run

question 116

Multiple Choice

Which of the following is not a condition of long-run competitive equilibrium?

• A)There is no incentive for firms to enter the industry.
• B)There is an incentive for firms to exit the industry.
• C)There is an incentive for firms to produce more or less output.
• D)There is an incentive for firms to change plant size.

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Definitions:

Silent Killer

A disease or condition that progresses quietly and often undetected until it causes serious health problems or death.

Middle Adulthood

A life stage usually ranging from about 40 to 65 years of age, characterized by stability, growth in career, and personal relationships.

Hypertension

A chronic medical condition where the blood pressure in the arteries is persistently elevated, posing health risks.

False Consensus Effect

The cognitive bias to overestimate how much other people share our beliefs, attitudes, and behaviors.