In the Long Run Perfectly Competitive

question 37

Multiple Choice

In the long run perfectly competitive

• A)firms will accept losses if there is the hope of someday turning a profit.
• B)firms will not accept anything less than a profit rate greater than the going interest rate.
• C)firms will accept zero economic profits.
• D)firms must have revenues greater than explicit and implicit costs.

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Definitions:

Public Corporation

A company whose shares are publicly traded on the stock market, allowing shareholders to own a portion of the business.

Private Corporation

A business entity owned by private individuals or entities, and whose shares are not traded publicly on stock exchanges.

Strategic Advisor

A professional who provides expert advice and guidance on long-term planning and decision-making to enhance an organization’s growth and success.

Business Trends

Emerging patterns within the business landscape that indicate changes in consumer behavior, market dynamics, or operational strategies.