An Implication of Entry and Exit in Response to the Profit

question 111

Multiple Choice

An implication of entry and exit in response to the profit incentive is that,for perfectly competitive firms,

• A)no firm accepts zero economic profits in the long run.
• B)firms produce the quantity that minimizes average variable costs in the short run.
• C)firms produce the quantity that minimizes average total costs in the long run.
• D)demand is completely inelastic.

Explain the criteria, purpose, and implications of a motion for summary judgment.

Identify the required documents for serving process on a defendant and the procedures involved in their issuance and service.

Describe the role and importance of procedural requirements in the litigation process.

Define a motion to dismiss and the supporting documents that may be filed with it.

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Definitions:

Cash Dividend

A payment made by a company to its shareholders, usually as a distribution of profits in the form of cash.

Common Stock

Equity securities that represent ownership in a corporation, providing voting rights and a share in the company's profits through dividends.

Noncumulative Preferred Stock

A type of preferred stock for which missed dividend payments are not accrued and must be declared by the board to be paid.

Common Stock

A kind of ownership stake in a company that allows holders to participate in voting on company issues and to earn dividends.