If in the Long Run a Firm Makes Zero Economic

question 247

True/False

If in the long run a firm makes zero economic profit, it should exit the industry.

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Definitions:

Requirement

A specified necessity or demand, often detailed within a project, system, or process that must be fulfilled or complied with.

Bivariate Distributions

Statistical distributions involving two random variables and their joint probability.

P(x,y)

Represents the joint probability of two events, X and Y, occurring together.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming these events happen with a known constant mean rate and independently of the time since the last event.