Which of the Following Conditions Is True of a Perfectly

question 1

Multiple Choice

Which of the following conditions is true of a perfectly competitive industry when it is in long-run equilibrium?

• A)Firms are entering the industry.
• B)Firms are exiting the industry.
• C)Price equals minimum short-run average total cost for all firms.
• D)Accounting profits for all firms are zero.
• E)Firms are experiencing increasing returns to scale.

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Definitions:

Low-Consensus Deviance

Activities or behaviors that are contested within society, with significant disagreement over whether they should be considered deviant.

Positivist Perspective

An approach that underscores the importance of empirical evidence and methodological study in understanding human behavior, especially in the context of criminal actions and their sociological implications.

Subjective

Refers to anything based on or influenced by personal feelings, tastes, or opinions, rather than external facts or evidence.

Positivist Perspective

An approach in sociology and criminology that emphasizes the use of empirical evidence to understand and change human behavior.