Economic Profits

question 212

Multiple Choice

Economic profits:

• A) will always exist for monopoly because of significant barriers to entry.
• B) will not exist in the long run in perfect competition because of easy entry into the industry.
• C) are determined by the vertical distance between price and average total cost.
• D) are correctly describe in A and B.

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Definitions:

Right Hand

The hand on the right side of the human body, often dominant in right-handed individuals.

Transverse Perineal Muscle

A muscle located in the perineum that acts to stabilize the central tendon of the perineum.

Adductor Brevis

A muscle in the thigh responsible for pulling the legs together and aiding in hip flexion.

Gracilis

A slender muscle in the inner thigh that is involved in the adduction of the thigh and flexion of the leg at the knee.