In Long-Run Equilibrium for a Monopolistically Competitive Firm, Economic Profit

question 226

True/False

In long-run equilibrium for a monopolistically competitive firm, economic profit equals zero and thus the outcome is efficient.

---

Definitions:

Inbound Transportation

The process and logistics involved in moving goods from suppliers to a company's premises.

Outbound Transportation

The process of moving goods from a company's warehouse or production facility to their destination, typically the end customer or retail outlets.

Unit Basis

A measurement or pricing method that relies on a per unit calculation, often applied in contexts such as billing, production, or statistical analysis.

Procurement

The process of finding, agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.