Under perfect competition

A) accounting profits are always zero in the long run.
B) information about every possible economic opportunity is somewhat limited.
C) the demand curve and the marginal revenue curve are identical.
D) the firm has a limited amount of control over the market price.

Accounting Profits

The difference between total revenue and total expenses when both are measured according to accepted accounting principles.

Economic Opportunity

The chance for individuals to pursue a better economic future, often measured by the ability for upward mobility and access to markets and jobs.

Demand Curve

A graph showing the relationship between the price of a good and the amount of it that consumers are willing and able to purchase at each possible price.