If Perfectly Competitive Firms Are Maximizing Their Profit and Are

question 55

Multiple Choice

If perfectly competitive firms are maximizing their profit and are making an economic profit,the market ________ in a short-run equilibrium and ________ in a long-run equilibrium.

• A) is; is
• B) is; is not
• C) is not; is
• D) is not; is not
• E) is; might be

Articulating weaknesses and strengths in a manner beneficial for interviews.

Utilizing storytelling techniques for framing interview responses.

Recognizing the expected interactive nature of interviews by preparing thoughtful questions.

Employing the STAR technique for crafting answers to behavioral interview questions.

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Definitions:

Legal Claim

A formal assertion by a party seeking judicial relief due to another party's action or failure to act in accordance with the law.

Promisor

An individual or entity who makes a promise or agreement to perform a specified act or service for a promisee.

Moral Obligation

A responsibility or duty which is ethically binding but not legally enforceable.

Consideration

In contract law, consideration refers to something of value that is exchanged between parties entering into a contract, often seen as the reason or incentive for a party to enter into an agreement.