QUESTION 4 Which of the following distinguishes the short run from the long run in pure competition? O A. Firms can enter and exit the market O B. Firms attempt to maximize profits OC. Firms use the MR - MC rule to in the long run but not in the short O D. The quantity of labor hired in the long run but not in the short maximize profits in the short run but can vary in the long run but not in the short run run run not in the long run

QUESTION 4 Which of the following distinguishes the short run from the long run in pure competition? O A. Firms can enter and exit the market O B. Firms attempt to maximize profits OC. Firms use the MR - MC rule to in the long run but not in the short O D. The quantity of labor hired in the long run but not in the short maximize profits in the short run but can vary in the long run but not in the short run run run not in the long run

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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