Solved

Which of the Following Statements Is True

Question 251

Multiple Choice

Which of the following statements is true?


A) The marginal entrant in a market earns the highest profit.
B) The marginal entrant has the lowest cost among all the firms in a market.
C) Differences in technology and experience can lead to firms having different costs even under perfect competition.
D) In a market that has identical cost structures for all firms, there is a possibility of positive economic profits in both the short run and the long run.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents