If in the Long Run a Firm Makes Zero Profit

question 130

True/False

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

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Definitions:

Territory Acquisition

The process by which a country or state expands its land and jurisdiction through purchase, negotiation, conquest, or discovery, significantly impacting its political and geographical landscape.

Ethnic Diversity

The presence of a wide range of distinct ethnic, cultural, and national groups within a given society or area.

California Population

The total number of individuals residing in California, reflecting its status as one of the most populous states in the United States.

Treaty of Guadalupe Hidalgo

The 1848 treaty that ended the Mexican-American War and resulted in the United States acquiring territories including modern-day California, Nevada, and Utah.