In the Long-Run Equilibrium for a Perfectly Competitive Market

question 376

Multiple Choice

In the long-run equilibrium for a perfectly competitive market

• A) the firms' economic profits are zero.
• B) there is no incentive for entry or exit.
• C) average total costs of production are minimized.
• D) All of the above are correct.

---

Definitions:

Pretest Posttest

A research design that measures the effects of an intervention by comparing subject scores before and after the intervention.

Experimental Design

The blueprint for conducting a scientific study to ensure that it is valid and reliable; it includes planning, conducting, and analyzing an experiment.

Two-by-two

A 2x2 matrix or table used to categorize or compare data points based on two binary criteria, often used in research for analysis or decision-making.

Online Experiments

Research experiments conducted over the internet, allowing for widespread participation and data collection from diverse populations.