In the Long Run, the Economic Profit of a Firm

question 5

Multiple Choice

In the long run, the economic profit of a firm in a perfectly competitive market

• A) will be above zero.
• B) will be below zero.
• C) will equal zero.
• D) can be above, below, or equal to zero.

---

Definitions:

Specialization

The process of focusing on a narrow area of expertise to become more efficient and productive in that area.

Bored Employees

Refers to workers who experience a lack of interest, enthusiasm, or engagement in their job tasks.

Negotiation

The process of reaching an agreement that both parties find acceptable.

Resistance to Change Approach

Strategies or actions employed to counteract or overcome resistance to changes in an organization or system.