Which of the Following Is True of Normal Profits

question 95

Multiple Choice

Which of the following is true of normal profits?

• A) They are necessary to keep a firm in the industry in the long run.
• B) They are zero under pure competition in the long run.
• C) They are excluded from a firm's costs of production.
• D) They are what attract other firms to enter an industry.

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Definitions:

Public Life

The aspect of someone's life that is concerned with their roles, responsibilities, and activities in the public eye or society as a whole.

Power

refers to the ability or capacity to direct or influence the behavior of others or the course of events.

British And French

Refers to elements or individuals related to the United Kingdom and France, often highlighting their historical, cultural, or political connections.

Indigenous Population

Groups of people native to a territory, characterized by distinct cultural, linguistic, and historical identities, often marginalized in their own lands.