Long-Run Equilibrium Is Characterized by Zero Profits in

question 49

Multiple Choice

Long-run equilibrium is characterized by zero profits in

• A) monopolistic competition only.
• B) perfect competition only.
• C) both perfect competition and monopolistic competition.
• D) market structures in which there are barriers to entry.

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Definitions:

Interrupts

Signals that temporarily halt the normal execution of a program or device operation in order to process a higher priority task.

Back-channeling

The use of non-verbal cues and short verbal responses to indicate that one is listening and understanding in a communication situation.

Understand

The ability to grasp the meaning, significance, or nature of something.

Symptoms

Observable signs or indications of a condition or disease.