Normal Profit Is What a Firm

question 9

Multiple Choice

Normal Profit is what a firm

• A)usually makes.
• B)needs to make to maintain the incentive to remain in the industry.
• C)is zero in the long run.
• D) A and b

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Definitions:

English Settlers

Early immigrants from England who established colonies in North America, beginning in the early 17th century.

Permanent Colony

A territory that is under the full and complete control of a foreign power indefinitely, often established for economic exploitation or strategic advantages.

Conflict Inevitability

Conflict inevitability suggests that certain conflicts are predetermined or unavoidable due to underlying tensions, differences, or competitive interests between parties.

Refuge

A place of safety or sanctum that offers protection or asylum to those who are in danger or need, often associated with displaced individuals or groups seeking shelter.