In the long run in perfect competition:
A) Normal profits are made.
B) No profits are made.
C) Abnormal profits are made.
D) A loss is made.
Correct Answer:
Verified
Q1: In perfect competition:
A) There are a few
Q2: In perfect competition:
A) Products are homogeneous.
B) Products
Q4: In the long run in perfect competition:
A)
Q5: A perfectly competitive firm produces where:
A) Marginal
Q6: Productive efficiency occurs where:
A) Price equals average
Q7: A firm in perfect competition is a
Q8: Firms in perfect competition cannot make abnormal
Q9: Firms in perfect competition must accept the
Q10: The price elasticity of demand for a
Q11: In the long run in perfect competition:
A)
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