A Firm Cannot Maintain Above-Normal Profits Over the Long Run

question 121

Multiple Choice

A firm cannot maintain above-normal profits over the long run

• A)Without the existence of a cartel.
• B)Unless barriers to entry exist.
• C)Unless predatory pricing occurs.
• D)Without retaliation occurring.

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Definitions:

Eighteenth Century

The period of time from January 1, 1701, to December 31, 1800, in the Gregorian calendar.

Sugar, Rice

Key agricultural products, where "sugar" refers to the sweet-tasting, soluble carbohydrates extracted from sugarcane or sugar beets and "rice" is a staple grain consumed globally.

European Weapons

Firearms, swords, and other armaments produced in Europe, historically significant in military conflicts and the colonization process.

Militarized States

Countries or regions in which military power is significantly emphasized and military institutions play a central role in governance and societal organization.