_____ occurs when businesses in a competitive industry have zero economic profit.
A) Economic loss
B) Decreasing cost
C) Long-run equilibrium
D) Market saturation
Correct Answer:
Verified
Q60: (Figure: Industry Adjustments to Economic Profits 2)
Q61: (Figure: Industry Adjustments to Economic Profits 2)
Q62: (Figure: Industry Adjustments to Economic Profits 2)
Q63: (Figure: Industry Adjustments to Economic Profits 2)
Q64: In the long run, firms will _
Q66: _ cost industry is one where the
Q67: In _ cost industry, the long-run supply
Q68: In _ cost industry, the entry of
Q69: In _ cost industry, the supply curve
Q70: In _ cost industry, the entry of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents