Assuming a Typical Firm Has Some Implicit Costs,in the Long

question 281

Short Answer

Assuming a typical firm has some implicit costs,in the long run a perfect competitor earns ________ accounting profit and __________ economic profit.

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Definitions:

E-commerce

The exchange of goods and services through the internet.

E-business

The conduct of business processes on the internet, including buying and selling goods, servicing customers, and collaborating with partners.

Broader Concept

A general or wide-ranging idea or notion that encompasses numerous specific examples or instances.

Porter's Five Forces

A framework for analyzing a company's competitive environment and identifying the strengths and weaknesses of its current competitive position.