The Characteristic of Ease of Entry and Exit Ensures That

question 19

True/False

The characteristic of ease of entry and exit ensures that perfectly competitive firms will be able to earn positive economic profits over the long run.

---

Definitions:

Value Proposition

A statement or concept that explains how a product or service solves a problem, meets a need, or provides benefit to customers, thereby offering a reason for them to choose it over alternatives.

Social Nirvana

An idealized state of social harmony and optimal collective well-being.

Intrapreneur

An employee within a company who promotes innovative product development and marketing.

Creativity

The use of imagination or original ideas to create something; inventiveness.