In which market structures do firms earn long-term profits of zero?
A) Perfect competition and monopolistic competition
B) Monopolistic competition and oligopoly
C) Oligopoly and monopoly
D) Perfect competition and monopoly
Correct Answer:
Verified
Q284: Monopolistically competitive markets and oligopolies are similar
Q287: A market with few sellers, some influence
Q288: A market with one seller, considerable influence
Q291: Which is FALSE about perfect competition?
A) There
Q294: In which market structures does a firm
Q296: In which market structures is the firm
Q303: Retail trade is an example of
A) perfect
Q306: Which of the following is NOT a
Q307: The college textbooks market is an example
Q308: Long-run economic profits are possible under
A) perfect
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