Which of the Following Is True

question 184

Multiple Choice

Which of the following is true?

• A) Price takers will not be able to earn economic profits in the long run, but competitive price searchers will be able to do so.
• B) Competitive price searchers will not be able to earn economic profits in the long run, but price takers will be able to do so.
• C) Neither competitive price searchers nor price takers will be able to earn economic profits in the long run.
• D) Both competitive price takers and price searchers will be able to earn economic profits in the long run.

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Definitions:

Gestational Diabetes

A form of diabetes that occurs during pregnancy, typically resolving after childbirth but increasing the risk of certain health issues.

Variable Costs

Costs that change in proportion to the level of goods or services a company produces, such as materials and labor.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales.

Producers

Individuals or entities that create or supply goods and services for consumption by consumers, contributing to the economy.