A Perfectly Competitive Firm in the Short-Run Can Earn

question 9

Multiple Choice

A perfectly competitive firm in the short-run can earn:

• A) positive economic profits.
• B) negative economic profits.
• C) zero economic profits.
• D) all of the above are possible

---

Definitions:

Representatives

Elected individuals who act on behalf of others within a legislative body, making decisions and voting on laws.

Indirect Voting

A voting process where citizens elect representatives who then vote on behalf of them in the selection of government officials or policy decisions.

Electoral College

A body of electors established by the United States Constitution, which formally selects the President and Vice President based on the popular vote in each state.

Open Primary

A primary election in which voters are not required to declare party affiliation and can choose to participate in any party's primary.