Long-Run Economic Profits Would Most Likely Exist in Which Market

question 200

Multiple Choice

Long-run economic profits would most likely exist in which market structure?

• A)monopoly, monopolistic competition, and oligopoly
• B)monopoly and oligopoly
• C)monopoly and monopolistic competition
• D)monopoly only

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Definitions:

Unmet Needs Trap

A situation where organizations focus on immediate customer needs without anticipating future demands, potentially hindering long-term innovation.

Base-Of-The Pyramid Markets

The largest, but poorest socio-economic groups in the world, considered as potential consumers, people living on less than $2.50 a day.

Benefit Corporations

A legal structure for a business designed to prioritize social and environmental objectives in addition to profitability.

Social Goals

Objectives that focus on improving society or addressing social issues, often pursued by individuals, organizations, or governments.