In the Long Run, Each Firm in a Competitive Industry

question 79

Multiple Choice

In the long run, each firm in a competitive industry earns

• A)zero accounting profits.
• B)zero economic profits.
• C)positive economic profits.
• D)positive, negative, or zero economic profits.

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Definitions:

Newsletters

Publications, usually regular, that provide news, information, and updates to a specific audience.

Monthly Evening Events

Regularly scheduled activities or programs that occur once a month in the evening, catering to community engagement or entertainment.

Menial Tasks

Simple, often repetitive, tasks that require little skill and are sometimes seen as low status or drudgery.

Instructional Tasks

Activities or assignments designed to teach specific skills or knowledge.