In the Long Run,existing Firms Exit a Perfectly Competitive Market

question 63

Multiple Choice

In the long run,existing firms exit a perfectly competitive market

• A) only if economic profits are zero.
• B) if they make a positive economic profit.
• C) if normal profits are greater than zero.
• D) only if they incur an economic loss.
• E) if they either make a normal profit or if they incur an economic loss.

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Definitions:

Transformational Grammar

A theory of grammar that focuses on the syntactic transformations that relate surface structures and deep structures in language.

Surface Structure

In linguistics, the outward form of a sentence which can vary without changing its underlying meaning.

Tarasoff Case

A landmark legal case that established the duty of mental health professionals to warn individuals of threats made by a patient.

Confidentiality

The ethical or legal duty of keeping information private and secured, usually in professional settings.