Asked by
kendall zamora
on Oct 27, 2024
Verified
In a long-run equilibrium,economic profits in a perfectly competitive industry are:
A) positive.
B) zero.
C) negative.
D) indeterminate.
Economic Profits
The distinction in a company's finances that results from deducting both tangible and intangible costs from the total revenue.
- Evaluate the criteria necessary for long-term stability in a perfectly competitive environment, particularly the zero economic profit scenario.
Verified Answer
TI
Learning Objectives
- Evaluate the criteria necessary for long-term stability in a perfectly competitive environment, particularly the zero economic profit scenario.
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