Long-Run Producer Surplus in a Perfectly Competitive Industry Accrues Mainly

question 30

Multiple Choice

Long-run producer surplus in a perfectly competitive industry accrues mainly to:

• A)suppliers of inputs with inelastic supply curves.
• B)suppliers of inputs with elastic supply curves.
• C)firms' owners.
• D)marginal consumers.

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Definitions:

Resistance

Opposition or pushback against instructions, norms, or changes, typically displayed by individuals or groups.

Influence Attempt

An effort by an individual to change the behavior, opinions, or attitudes of another individual or group.

Positive Relationship

An interaction between individuals characterized by mutual respect, cooperation, support, and the absence of conflict or negativity.

Identification

The process of associating oneself with particular groups, ideas, or qualities, leading to a sense of belonging or affinity.