If a firm earns zero economic profit in the long run,then it
A) must be in a perfectly competitive market
B) must be in a monopolistically competitive market
C) cannot be in a monopolistically competitive market
D) could be in any of the four major market structures
E) is not in an oligopoly
Correct Answer:
Verified
Q156: Price leadership
A)is a form of explicit collusion
B)works
Q157: In the United States,price-fixing cartels are
A)ubiquitous
B)nonexistent
C)generally illegal
D)discouraged
Q158: Antitrust policies usually focus on encouraging cost-efficient
Q159: After much success during the 1970s,the OPEC
Q160: U.S.antitrust enforcement policies have focused on
A)encouraging price-fixing
Q162: The typical monopolistically competitive firm earns no
Q163: Regardless of whether advertising is effective or
Q164: Which of the following has contributed to
Q165: Advertising always results in a more elastic
Q166: If market structures are ranked from the
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