In a perfectly competitive market, all firms in the long run earn:
A) positive economic profit.
B) positive accounting profit.
C) zero economic profit.
D) zero accounting profit.
C
Economics
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A firm in monopolistic competition is similar to a firm in perfect competition because they both
A) can earn only zero economic profit in the long run. B) can earn only zero economic profit in the short run. C) maximize their profits by producing where P = MR = MC. D) Both answers A and C are correct. E) Both answers B and C are correct.
Economics
Explain how elections in countries with democratic political institutions can place controls on corruption
What will be an ideal response?
Economics