Third-party logistics refers toMultiple Choicebringing goods back to the manufacturers because of defects or to recycle. the use of outside firms to help move goods from here to there. managing the flow of unfinished products to business buyers and ultimate consumers. the movement of goods within a warehouse, from warehouses to the factory floor and from the factory floor to various workstations.

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.