In Long-Run Equilibrium, a Firm in Perfect Competition Has No

question 136

True/False

In long-run equilibrium, a firm in perfect competition has no economic profit.

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Definitions:

Antifederalist Pamphlet

Publications produced by opponents of the ratification of the U.S. Constitution, arguing against the expansion of federal power and advocating for states' rights.

Constitution

A system of fundamental principles according to which a nation, state, corporation, or the like, is governed.

Judiciary Act of 1789

The Judiciary Act of 1789 was a landmark statute enacted by the first United States Congress that established the federal judiciary of the United States.