In the long run in a perfectly competitive industry

A) opportunity costs are negligible.
B) economic profits will be zero.
C) some firms will be experiencing economic losses.
D) only entrepreneurs will earn more than their opportunity costs.


B

Economics

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A year-long drought that destroys most of the summer's crops would be considered a:

A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.

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Consumption expenditure, investment, and net exports __________.

Fill in the blank(s) with the appropriate word(s).

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Fill in the blank(s) with the appropriate word(s).

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