In the Long Run,a Firm in a Perfectly Competitive Market

question 29

Multiple Choice

In the long run,a firm in a perfectly competitive market will

• A) make zero economic profit, so that its owners earn a normal profit.
• B) make zero normal profit but its owners will make an economic profit.
• C) remove all competitors and become a monopolistically competitive firm.
• D) incur an economic normal loss but not earn a positive economic profit.
• E) remove all competitors and become a monopoly.

Acquire knowledge on designing and implementing input masks for data integrity.

Understand basic navigational operations in database software.

Identify and use database objects effectively.

Understand database data types and their purposes.

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Definitions:

Administrator

A person appointed by a court to serve as a personal representative for a person who died intestate (who made a will but failed to name an executor, or whose executor cannot serve).

Secretary

An individual employed to handle correspondence, keep records, and perform clerical and administrative duties, often assisting an individual or an office within an organization.

Paralegal

A professional who assists lawyers in the delivery of legal services, performing tasks such as research, preparing legal documents, and managing cases but is not qualified to represent clients in court.

Managing Partner

The person responsible for the overall operation and management of a partnership, often leading its strategic direction and making major decisions.