In the Long Run,profits Will Equal Zero in a Competitive

question 113

Multiple Choice

In the long run,profits will equal zero in a competitive market because of

• A) constant returns to scale.
• B) identical products being produced by all firms.
• C) the availability of information.
• D) free entry and exit.

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Definitions:

Detergent

A chemical compound used to remove dirt and grease, commonly used in cleaning processes due to its surfactant properties.

Ratchet

Locking mechanism of an instrument.

Locking Mechanism

A device or feature designed to prevent the operation or movement of a piece of machinery or equipment until it is unlocked.

Towels Dressings

Absorbent materials, such as towels, used for covering and protecting wounds to absorb discharge and facilitate healing.