Economists Proclaim That Competitive Firms Make Zero Economic Profit in the Long

question 21

Multiple Choice

Economists proclaim that competitive firms make zero economic profit in the long run.This shows how

• A) detached economists are from the real world.
• B) unrealistic economic theory is.
• C) firms cover all their cost, both monetary and non-monetary.
• D) firms cover only monetary cost when economic profits are zero.

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Definitions:

False Negative

An error in which a test fails to detect a presence that is actually there.

Thought-Activated Software

Software systems that operate based on users' thoughts or brain signals, often requiring neural interfacing technology.

Voice-Activated Software

Computer applications or systems that are controlled through vocal commands rather than traditional manual inputs.

Revenue

The total amount of money received by a company for goods sold or services provided during a certain time period.