Which of the Following Is Consistent with a Competitive Market

question 95

Multiple Choice

Which of the following is consistent with a competitive market?

• A) A small number of firms
• B) Exit of small firms when profits are high for large firms
• C) Zero economic profit in the long run
• D) Marginal revenue lower than price for each firm

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Definitions:

Victims

Individuals who experience harm, suffering, or loss due to crimes, accidents, or other events or actions.

Labelling

The practice of categorizing people based on their behaviors, characteristics, or attributes, often leading to stigma or stereotypes.

Official Crime Rate

The number of reported crimes in a given area and period, as recorded by law enforcement agencies, used to gauge and manage law and order.

Alternate Sources

Refers to additional or different origins or means for obtaining information, supplies, or energy.