The Price-Quantity Combination That Will Prevail in a Perfectly Competitive

question 35

Multiple Choice

The price-quantity combination that will prevail in a perfectly competitive market in the long run is called

• A) short-run equilibrium
• B) Nash equilibrium
• C) long-run equilibrium

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Definitions:

Datasheet View

A table-like view in database software where data is displayed in columns and rows, allowing for easy data entry, editing, and browsing.

Home Tab

The primary location in many software applications where users can find essential tools and functions to manage and edit documents or files.

Calculated Field

In databases or spreadsheet software, a field that derives its value from a formula or function applied to other fields.

Foreign Key

In database management, a field in a table that is the primary key in another table, used to create and enforce a link between the tables.