In the Long Run,firms in a Competitive Market Make Zero

question 8

True/False

In the long run,firms in a competitive market make zero economic profit.This induces most firms to leave the industry.

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Definitions:

Trial Close

A sales technique where the seller proposes a closing question or statement to gauge the buyer's readiness to complete the purchase.

Selling Point

A feature or benefit of a product that makes it attractive to potential buyers.

Presentation

The act of showing and explaining the content of a topic to an audience or listener, often used in the context of sales, education, or corporate meetings.

Fishing Trawler

A commercial fishing vessel designed to operate fishing trawls, nets that are towed along the sea floor to catch fish.