Easy Entry and Exit Cause Oligopoly Profits to Be Zero

question 84

True/False

Easy entry and exit cause oligopoly profits to be zero in the long run.

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Definitions:

Automated Electronic Processes

Systems or procedures conducted with minimal human intervention through digital or electronic technology to perform tasks or operations.

Industrial Productivity

A measure of the efficiency of production in the industrial sector of the economy, often influenced by advancements in technology and processes.

White-Collar Workers

Employees who perform professional, managerial, or administrative work, often in office settings, as opposed to manual labor.

Treaty of Detroit

This historically refers to any of several agreements made in the 18th and early 19th centuries, often involving land transactions or peace treaties between Native American tribes and colonial or federal governments around the Detroit area.