In a Perfectly Competitive Market in the Long Run,which of the Following

question 119

Multiple Choice

In a perfectly competitive market in the long run,which of the following is not correct?

• A)Firms are attempting to maximize profit.
• B)Economic profits are zero.
• C)There are no better uses for the firm's resources.
• D)Firms are maximizing total revenue.

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Definitions:

Liabilities

Liabilities refer to the financial obligations or debts that a company owes, which must be paid to others.

Treasury Stock

Shares that were once part of the outstanding shares but were bought back by the company, reducing the amount of stock on the open market.

Par Value

The stated value of a bond, stock share, or coupon as designated by the issuer.

Resold

The act of selling an item or asset that has already been purchased.