Which of the Following Is Not True in the Long

question 139

Multiple Choice

Which of the following is not true in the long run under perfect competition?

• A) There is no incentive for firms to enter or exit the industry.
• B) Economic profit is zero.
• C) Long-run marginal cost is minimized.
• D) Long-run average total cost is minimized.

---

Definitions:

Collective Good

Benefits or outcomes that are shared and advantageous for all members of a community or society.

Individual Initiative

A person's ability to independently take charge, make decisions, or start actions by themselves.

Exert Influence

To wield power or authority in a way that affects or shapes someone's behavior, decisions, or the outcome of situations.

Delegate Councils

Groups of representatives chosen to deliberate and make decisions on behalf of a larger body.