Multiple Choice
In long-run competitive equilibrium, a firm that owns factors of production will have an:
A) economic profit = $0 and accounting profit > $0.
B) economic profit > $0 and accounting profit = $0.
C) economic and accounting profit = $0.
D) economic and accounting profit > $0.
E) economic and accounting profit can take any value.
Correct Answer:
Verified
Correct Answer:
Verified
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