High School Economics Quiz
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MARKET STRUCTURES AND COMPETITION
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The ability of firms to earn positive economic profits in the long run is a direct and necessary consequence of...
A
the existence of significant barriers to the entry of new firms into the market.
B
producing at the output quantity where marginal revenue equals marginal cost.
C
product differentiation and extensive advertising campaigns.
D
facing a downward-sloping demand curve for the firm's product.
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