Consider a perfectly competitive firm when its industry is in long- run equilibrium.Which of the following statements is correct?
A) The firm has successfully established barriers to entry.
B) The firm has no ability to affect its product's price.
C) The firm is earning positive economic profits.
D) The firm has a strong profit incentive to expand capacity.
E) The firm has successfully differentiated its product.
Correct Answer:
Verified
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