Short-Run Perfectly Competitive Equilibrium Is Defined as

question 47

Multiple Choice

Short-run perfectly competitive equilibrium is defined as

• A) The market price and quantity at which quantity demanded equals quantity supplied in the short term.
• B) The output level and price where all firms in the market are profit maximizing.
• C) The point at which all firms earn zero profits.
• D) The point where there is no incentive to enter the market.

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Definitions:

Current Asset

An asset that is expected to be converted into cash, sold, or consumed within one year or within the operating cycle of the business, whichever is longer.