Which of the Following Is True About the Long Run

question 130

Multiple Choice

Which of the following is true about the long run operations of perfectly competitive firms?

• A) They produce with productive efficiency.
• B) They produce with allocative efficiency.
• C) They earn zero economic profits.
• D) all of the above

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Definitions:

Patient

An individual receiving or registered to receive medical treatment, care, or intervention from healthcare professionals.

Informed Consent

The process by which a healthcare provider educates a patient about the risks, benefits, and alternatives of a given procedure or intervention before the patient agrees to it.

Emancipated Minor

A person under the age of majority who is legally recognized as independent from their parents or guardians.

Competent

Having the necessary ability, knowledge, or skill to do something successfully, especially with regard to professional tasks or duties.