In long run competitive equilibrium:

A. Every firm will earn economic profit

B. Every firm will incur losses

C. Every firm will earn only normal profit

D. The marginal firm will earn no profit

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. An inferior commodity is one whose quantity demand decreases when income of the consumer:
  2. When the income of consumer increases then budget line will:
  3. Who is the author of Problems of Capital Formation in Underdeveloped Countries?
  4. The demand curve of a firm in monopolistic competition is:
  5. An increase in the price of the good measured on the horizontal axis causes:
  6. In short-run, in monopolistic competition, a firm earns:
  7. The nominal income of a consumer is income in terms of:
  8. The necessary condition of firms equilibrium requires:
  9. The greater the percentage of income spent on a commodity:
  10. Marshallian demand function is also known as:
  11. If demand increased and supply decreased then:
  12. Which of the following has more elastic demand curve?
  13. Excess capacity is concerned with the:
  14. From the resource allocation view point, perfect competition is preferable because:
  15. In Edgeworth model, prices oscillate between:
  16. Decrease in demand results in:
  17. Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity…
  18. The production process is:
  19. The concept of industry in monopolistic competition has been replaced by:
  20. If two goods have same marginal utility for a consumer then:
  21. The central problem of economics is:
  22. For monopolistic competitive firm:
  23. The difference between average cost and average revenue is:
  24. When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…
  25. The cost of one thing in terms of the alternative given up is known as:
  26. Nash Equilibrium is stable:
  27. In long run, a firm can change:
  28. The budget line is described by each of the following except:
  29. In real life, brand loyalty is a barrier to:
  30. A loss bearing firm will continue to produce in the short run so long as the price at least covers: