Which of the Following Does Not Need to Be True

question 61

Multiple Choice

Which of the following does not need to be true for long-run equilibrium to be attained?

• A)Constant returns to scale are reached.
• B)The latest in technology is utilized.
• C)Profit is being maximized.
• D)There is no incentive to enter or exit the industry.
• E)Economic profits equal zero.

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Definitions:

Revenue Accounts

Accounts used to record the income generated from a company's primary operations.

Credit Balance

A situation where the amount of credits in an account exceeds the debits, signifying an amount owed to the account holder.

Accounts Payable

Liabilities representing amounts owed by a company to creditors for goods and services that have been purchased or received but not yet paid for.

Asset

An economic resource or a controlled item of value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.