Which of the Following Would Not Be Considered a Dominant-Party

question 6

Multiple Choice

Which of the following would not be considered a dominant-party state as of 2015?

• A) Ghana
• B) Chad
• C) Ethiopia
• D) South Africa

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Definitions:

Profit-Maximizing

The process by which a company determines the price and output level that returns the highest profit.

Loss-Minimizing

A strategy or position where a firm aims to reduce its losses to the lowest possible level under adverse conditions, often by adjusting production.

Zero Economic Profits

Zero economic profits occur in a competitive equilibrium when firms earn just enough revenue to cover their total costs, including the opportunity costs.

Short Run

A period of time during which at least one of a firm's inputs is fixed, limiting its ability to increase production.