For a competitive market in the long run,
A) Economic losses induce firms to shut down.
B) Economic profits induce firms to enter until profits are normal.
C) Accounting profit is zero.
Correct Answer:
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Q1: The entry of firms into a market
A)Increases
Q2: The entry of firms into a market,ceteris
Q4: Which of the following is true about
Q5: Marginal cost is the increase in total
Q6: The equilibrium price in a competitive market
A)Ensures
Q7: If someone invents a better way to
Q8: In a competitive market,economic profits will
A)Cause existing
Q9: Which of the following is an investment
Q10: If a new sushi restaurant opens,then
A)The market
Q11: If the price of ricotta cheese,an ingredient
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