If All Firms in a Perfectly Competitive Market Are Operating

question 46

Multiple Choice

If all firms in a perfectly competitive market are operating where the MC = MR and there are no economic profits,then

• A)the entire industry is about to stop producing since businesses will not operate without economic profits.
• B)the industry is in equilibrium with no desire for exit or entry.
• C)the industry is in serious disequilibrium where the inefficient producers are likely to go bankrupt.
• D)the government is about to move in with subsidies.

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Definitions:

RTI Services

Response to Intervention is an educational strategy that provides early, systematic assistance to children who are struggling in school, aiming to prevent academic failure.

Special Education

Tailored educational programs designed to meet the unique needs of students with disabilities or special education requirements.

IEP

An Individualized Education Program (IEP) is a customized educational plan designed to meet the unique needs of students with disabilities.

IFSP

An Individual Family Service Plan (IFSP) is a plan for early intervention services for children with developmental delays and their families.