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In the Long Run, a Perfectly Competitive Firm Makes Zero

question 349

Essay

In the long run, a perfectly competitive firm makes zero economic profit. What incentive does the firm have to stay in business if it is making zero economic profit?


Definitions:

Comparable-worth Policies

Comparable-worth Policies aim to ensure equal pay for different jobs of comparable value, addressing gender pay disparities.

Positions Mostly Held

The roles or jobs that are most commonly occupied by individuals within a certain context or industry.

Weekly Attendance Award

A reward or recognition given to employees for consistently attending work or not missing any days within a week, often used to encourage punctuality and reliability.

Total Compensation

The complete pay package for employees, including base salary, bonuses, benefits, and any other financial rewards.

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