Which of the Following Is True in a Long-Run Competitive

question 46

Multiple Choice

Which of the following is true in a long-run competitive equilibrium?

• A)Price is greater than average total cost.
• B)Profits are greater than zero.
• C)Marginal cost is greater than average total cost.
• D)Market supply is greater than market demand.
• E)There is no incentive to enter or exit the industry.

Understand the concept and importance of supply chains and distribution channels in product flow.

Identify the value-added functions of distribution channels within the supply chain.

Recognize the specialized nature and use of different modes of transportation in logistics.

Comprehend inventory carrying costs and their components.

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Definitions:

Greenpeace

An international environmental organization that promotes earth-friendly policies and actions.

Corporate Citizenship

The behavior of a company viewed in terms of its contribution to society through its ethical business practices and social responsibility initiatives.

UN Global Compact

A United Nations initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies.

Procedural Justice

The fairness perceived in the processes and methods used to make decisions and resolve disputes.