Which of the following is NOT a necessary condition for long-run equilibrium under perfect competition?

A) No firm has an incentive to enter the market.
B) No firm has an incentive to exit the market.
C) Prices are relatively low.
D) Each firm earns zero economic profit.
E) Each firm is maximizing profit.


C

Economics

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Assume Congress holds a hearing on the impact of gasoline prices on the price of corn. Most likely, this hearing will be

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A local restaurant offers an "all you can eat" Sunday brunch for $12. Jenica eats two servings but leaves half of a third helping uneaten. Why?

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