Select the Best Word or Phrase for the Blank in the Following

question 254

Multiple Choice

Select the best word or phrase for the blank in the following sentence.
Promise me you _______ me when you arrive.

• A)call
• B)have called
• C)will call
• D)called

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Definitions:

Long-Run Equilibrium

A state in which all factors of production and inputs in a market are fully adjusted to any economic changes, showing no tendency for further adjustment.

Competitive Price-Searcher Market

A market in which the firms have a downward-sloping demand curve, and entry into and exit from the market are relatively easy.

Positive Economic Profit

Earnings that exceed both the explicit and implicit costs of a company, indicating a financial gain beyond the normal expectations of profit.

Maximum Economic Profit

The highest possible financial gain obtainable by a firm when total revenue exceeds both explicit and implicit costs.