Which of the Following Statements About Profit Maximizing Firms in a Competitive

question 81

Multiple Choice

Which of the following statements about profit maximizing firms in a competitive market is FALSE?

• A)Firms earn no economic profit in the long run.
• B)Marginal revenue does not have to equal marginal cost.
• C)p - MC = 0.
• D)Price equals marginal revenue.

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Horticulturist

A professional or expert involved in the practice of horticulture, focusing on the cultivation of plants for food, comfort, and aesthetic purposes.

Bermuda Grass

A type of durable, warm-season grass known for its resilience and commonly used in lawns, sports fields, and golf courses.

ANOVA

Analysis of Variance, a statistical method used to test differences between two or more means.

Fertilizer

Substances added to soil to supply nutrients that aid in plant growth, available in organic or synthetic forms.