Examlex
If no candidate keys exist in a table,which of the following is used?
Long Run Equilibrium
Long run equilibrium occurs when all inputs can be adjusted by firms, markets are perfectly competitive, and economic profit is zero, leading to a situation where firms just cover their opportunity costs.
Monopolistically Competitive
A market structure characterized by many sellers offering differentiated products, leading to competition based on product quality, brand, and price.
Zero Profits
A situation where a firm's total revenues exactly equal its total costs, typically in the long run in perfectly competitive markets.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, with few barriers to entry.
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