Solved

In the Long Run,competitive Firms MUST Be Profit Maximizers Because

Question 75

Multiple Choice

In the long run,competitive firms MUST be profit maximizers because if they do not maximize profits,


A) they will not survive.
B) they will not be price takers.
C) they will attract entry.
D) the profits that they do earn will only cover variable costs.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q70: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure

Q71: Giving presents at Christmas does NOT generate

Q72: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure

Q73: The services of real estate brokers are

Q74: If a city government enacts a maximum

Q76: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -The above figure

Q77: If a firm is in a perfectly

Q78: Does a competitive long-run equilibrium require cost-minimization?<br>A)

Q79: The total welfare associated with a market

Q80: An individual's _ surplus is the area