The long-run result of producing where P = MC in an industry where there is free entry or exit is [1] negative economic profit. [2] zero economic profit. [3] inefficient production. [4] positive economic profit

August 31, 2021/in Samples /by Frank Main

The long-run result of producing where P = MC in an industry where
there is free entry or exit is

[1] negative economic profit.

[2] zero economic profit.

[3] inefficient production.

[4] positive economic profit