Which of the following is not true for a competitive market? Group of answer choices Firms can earn positive economic profits in the long run Firms sell nearly identical products There are many buyers and sellers Firms expect zero economic long-run profits

Which of the following is not true for a competitive market? Group of answer choices Firms can earn positive economic profits in the long run Firms sell nearly identical products There are many buyers and sellers Firms expect zero economic long-run profits

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter10: Monopoly

Section: Chapter Questions

Problem 4WNG

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Question

Which of the following is not true for a competitive market?

Group of answer choices

Firms can earn positive economic profits in the long run

Firms sell nearly identical products

There are many buyers and sellers

Firms expect zero economic long-run profits

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