In a Long-Run Competitive Equilibrium,both More Efficient and Less Efficient

question 32

True/False

In a long-run competitive equilibrium,both more efficient and less efficient firms earn zero economic profit.

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Definitions:

Electric Shocks

A sudden discharge of electricity through a part of the human body, used in various contexts, including medical therapy and psychological experiments.

Relationship Development

The process through which interpersonal connections evolve, characterized by increasing intimacy and commitment.

Social Barriers

Obstacles within a society that prevent individuals from achieving their goals, often based on status, class, privilege, or norms.

Proximity Effect

The tendency for individuals to form relationships or have positive feelings towards those who are physically or psychologically close to them.