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In the Long-Run Equilibrium, Perfectly Competitive Firms Make Zero Economic

Question 336
Multiple Choice

In the long-run equilibrium, perfectly competitive firms make zero economic profit because of A) government regulations. B) the ability of firms to enter and exit. C) inefficient production processes. D) high fixed costs.

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Q 337
In the long run, perfectly competitive firms make zero economic profit. This result is due mainly to which of the following assumptions? A) few buyers and sellers B) unrestricted entry and exit C) firms must act as price takers D) demand for the firm's output is perfectly elastic
Q 338
Which of the following is NOT present in a perfectly competitive market? A) profit maximizing firms B) an economic profit in the long run C) price taking behavior D) identical products
Q 339
In the long run, perfectly competitive firms make zero economic profit. This result is due mainly to the point that a perfectly competitive market has A) few buyers and sellers. B) no barriers to entry and exit. C) price taking by the firms. D) firms with perfectly elastic market demand.
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