Long-Run Economic Profits Would Most Likely Exist in Which Market

question 40

Multiple Choice

Long-run economic profits would most likely exist in which market structure(s) ?

• A) Monopoly, monopolistic competition and oligopoly
• B) Monopoly and oligopoly
• C) Monopoly and monopolistic competition
• D) Monopoly only

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Definitions:

Longitudinal

Pertaining to research or studies that follow subjects over a period of time, observing changes or development in those subjects.

Experimental Group

In research, a group of subjects who are exposed to the variable under study, allowing researchers to determine the effect of the variable on the outcome.

Imposed Treatment

Medical or therapeutic care administered to an individual without their explicit consent, typically under specific legal or ethical justifications.

Dependent Variable

The variable being tested and measured in a scientific experiment, which is affected by the independent variable.