{"id":904,"date":"2015-04-30T04:37:56","date_gmt":"2015-04-30T04:37:56","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymicro1xngcxmaster\/?post_type=chapter&#038;p=904"},"modified":"2015-07-17T00:50:42","modified_gmt":"2015-07-17T00:50:42","slug":"learning-outcome-entry-and-exit-decisions","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/chapter\/learning-outcome-entry-and-exit-decisions\/","title":{"raw":"Outcome: Entry and Exit Decisions","rendered":"Outcome: Entry and Exit Decisions"},"content":{"raw":"<h2>What you'll learn to do: explain the difference between short-run and long-run equilibrium<\/h2>\r\nThis section will focus on the long-run adjustment process. In the short run, firms do not have control over their fixed inputs, but in the long run, they can adjust their factors of production to remain productive.\r\n\r\nThe specific things you\u2019ll learn to do in this section include:\r\n<ul>\r\n\t<li>Explain the concept of \"zero economic profit\"<\/li>\r\n<\/ul>\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading: Entry and Exit Decisions in the Long Run<\/li>\r\n\t<li>Self Check: Entry and Exit Decisions and Zero Economic Profit<\/li>\r\n<\/ul>\r\n<div class=\"lti-mapping\">\r\n\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.\r\n\r\n<\/div>","rendered":"<h2>What you&#8217;ll learn to do: explain the difference between short-run and long-run equilibrium<\/h2>\n<p>This section will focus on the long-run adjustment process. In the short run, firms do not have control over their fixed inputs, but in the long run, they can adjust their factors of production to remain productive.<\/p>\n<p>The specific things you\u2019ll learn to do in this section include:<\/p>\n<ul>\n<li>Explain the concept of &#8220;zero economic profit&#8221;<\/li>\n<\/ul>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading: Entry and Exit Decisions in the Long Run<\/li>\n<li>Self Check: Entry and Exit Decisions and Zero Economic Profit<\/li>\n<\/ul>\n<div class=\"lti-mapping\">\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-904\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Steven Greenlaw and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":74,"menu_order":14,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Steven Greenlaw and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"cde55ff6-fa8a-49de-8d70-c31877309176","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-904","chapter","type-chapter","status-publish","hentry"],"part":29,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/users\/74"}],"version-history":[{"count":12,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/904\/revisions"}],"predecessor-version":[{"id":4183,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/904\/revisions\/4183"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/parts\/29"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/904\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/media?parent=904"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=904"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/contributor?post=904"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/license?post=904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}