In the long run, under perfect competition:
A) firms earn positive economic profit because of economies of scale.
B) firms earn positive accounting profit because of government regulations.
C) firms earn zero economic profit because of free entry and exit of firms.
D) firms earn negative economic profit because of free entry and exit of firms.
C
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In 1999, around 24 percent of college students attended private schools
a. True b. False
Given the evidence presented in the Applied Perspective on China's population policy, it appears that by decreasing the rate of population growth, China
a. is likely to experience slower economic growth in the future b. has been able to increase the size of its agricultural sector relative to the industrialsector c. has become one of the major grain exporters in the world d. will lag behind India in population in the coming years e. has been able to shift more resources into capital accumulation to promote future economic growth