Profit Maximizing Under Perfect Competition & Monopoly Mcqs


Q.  In the long run ?

a. all firms must make economic profits.
b. there are no fixed factors of production
c. a firm can vary all inputs, but it cannot change the mix of inputs it uses.
d. a firm can shut down, but it cannot exit the industry


ANSWER: See Answer
 
No explanation is available for this question!
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