In the Long Run,a Perfectly Competitive Firm Makes

question 106

Multiple Choice

In the long run,a perfectly competitive firm makes

• A) a positive economic profit.
• B) zero economic profit.
• C) negative economic profit, that is, an economic loss.
• D) zero accounting profit.
• E) either a positive economic profit or a normal profit.

---

Definitions:

Slope

In mathematics, the slope represents the steepness or angle of a line, defined as the ratio of the vertical change to the horizontal change between two points on the line.

Simple Linear Regression

A statistical method for modeling the relationship between a single independent variable and a dependent variable by fitting a linear equation to observed data.

Least Squares

A mathematical method used to determine the best-fitting line through a set of data points by minimizing the sum of the squares of the differences between observed and estimated values.

Standard Deviation

A measure of the dispersion or variability of a set of data points around the mean, indicating how spread out the data points are.