In the Short Run,a Perfectly Competitive Firm

question 81

Multiple Choice

In the short run,a perfectly competitive firm

• A) must make an economic profit.
• B) must incur an economic loss.
• C) must make zero economic profit.
• D) might make an economic profit, zero economic profit, or incur an economic loss.
• E) None of the above answers is correct.

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Definitions:

Employment History

A record of a person's previous job positions, responsibilities, and duration of employment.

Capabilities

The skills, resources, and abilities that enable an individual or organization to perform effectively and achieve their goals.

Frequent Job Changes

The practice of changing jobs more often than is typical, which can reflect a variety of career strategies or market conditions.

Employment Gaps

Periods of time when an individual was not employed, which may appear in their work history.