For a Profit-Maximizing Perfectly Competitive,in the Long Run Economic Profits

question 21

Short Answer

For a profit-maximizing perfectly competitive,in the long run economic profits are __________.

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Definitions:

Residential Structure

A building designed for people to live in, which includes houses, apartments, condos, and other dwellings.

Investment

The allocation of resources (money, effort, time) into assets with the expectation of earning a profit.

GDP

A country's economic activity is measured by its Gross Domestic Product, which aggregates the total value of goods and services made during a particular time.

Net Investment

The total amount spent on new capital assets minus the depreciation on existing capital assets.