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Question Practice

In an equilibrium state with free entry and exit, firms earn what type of profit?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Market Equilibrium
Question Bank

In an equilibrium state with f...

Single Answer MCQ
Q-00089614

In an equilibrium state with free entry and exit, firms earn what type of profit?

1

Supernormal profit

2

Normal profit

3

Negative profit

4

Zero profit

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Keep Practising

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Q1.

What is market equilibrium?

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Q2.

When does excess demand occur in a market?

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Q3.

What occurs at a price above the equilibrium price?

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Q4.

What is the equilibrium price in a perfectly competitive market?

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