In the long run, both monopolistically competitive and perfectly competitive firms attain

A) lowest cost production.
B) positive economic profits.
C) zero economic profits.
D) productive efficiency.

Answer: C

Economics

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Which of the following statements is true?

A) Rational economic agents maximize more than just monetary income. B) It is not necessary to consider the risks of a particular alternative while making an optimal decision. C) An individual does not require information to make optimal decisions. D) The principle of optimization is only accurate when it comes to making monetary decisions.

Economics

Under the Bretton Woods exchange rate system, ________ could sell their dollars to the American government in exchange for gold

A) American citizens B) foreign central banks C) foreign citizens D) all of the above

Economics