In the Long Run,profits Will Equal Zero in a Competitive

question 113

Multiple Choice

In the long run,profits will equal zero in a competitive market because of

• A) constant returns to scale.
• B) identical products being produced by all firms.
• C) the availability of information.
• D) free entry and exit.

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Definitions:

Adaptive Thermogenesis

The process by which the body converts food energy (calories) to heat at a lower rate when a person eats less, because of, for example, famine or dieting.

Energy

The capacity to do work or produce change, which can exist in various forms such as kinetic, potential, thermal, chemical, and others.

Diet

The combination of foods and beverages consumed by an individual, impacting physical health and well-being.

Fertility

The natural capability to produce offspring, a vital component of reproductive health in both men and women.