Mark Wants to Work in the Federal Law Enforcement Field

question 23

Multiple Choice

Mark wants to work in the federal law enforcement field, with historical roots in crime fighting. He wants a versatile job. He should seek employment as an:

• A)FBI agent
• B)CIA analyst
• C)DHS agent
• D)USMS agent

---

Definitions:

Long-Run Equilibrium

A state in which supply equals demand, all firms are maximizing profits, and there is no incentive for market entry or exit.

Efficient Output

The level of production at which a firm or economy can produce the maximum amount of goods at the lowest possible cost.

Efficient Output

The level of production where a firm or economy can produce the maximum amount of goods and services with the least amount of inputs.

Perfect Competition

A market structure characterized by a large number of buyers and sellers, homogeneous products, and free entry and exit, leading to price determination by supply and demand.