Homework Answers
"D"
When there is no incentive for the firms to enter the market or exit that means all the firms in the industry are breaking even i.e. no profit or loss in the market.
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When would you expect economic profits in an industry to be zero? When firms are entering...
If all firms in a perfectly competitive industry are experiencing economic losses, then: some firms will...
If all firms in a perfectly competitive industry are experiencing economic losses, then: some firms will exit the industry, until economic profit is positive. some firms will exit the industry, until accounting profit equals zero. all existing firms will stay in the industry, hoping for better times. some firms will exit the industry, until economic profit equals zero.
21) If all firms in a perfectly competitive industry are experiencing economic losscs, then: 21 A...
please answer and explain
21) If all firms in a perfectly competitive industry are experiencing economic losscs, then: 21 A) sume fins will exit the industry, until sconoinic profit is positive B) soitie firms will exit the industry, uieic profit equals zero. C) some firms will exit the indusiry, until accounting prolfit equals zero. D) all existing firms will stay in the industry, hoping for better times. 23) If the market fur huiler is perfectly competit A) upward sloping. B)...
Help with #17 please 17. Which of the following statements is correct? A. Economic profits encourage firms to enter...
Help with #17 please
17. Which of the following statements is correct? A. Economic profits encourage firms to enter an industry; losses encourage firms to leave. B. Economic profits encourage firms to leave an industry; profits encourage firms to leave. C. Economic losses encourage firms to enter an industry; profits encourage firms to leave. D. Economic profits and losses have no significant impact on the growth or decline of an industry.
Suppose that firms in a monopolistically competitive industry are making positive profits in the short run....
Suppose that firms in a monopolistically competitive industry are making positive profits in the short run. Select the correct answers below to describe what will happen in this industry in the long run. Since profits are greater than zero, firms will enter/exit As this occurs, demand for each firm will, increase/decrease/stay the same This will continue until, profits increase/decrease/equal zero At this point, P=ATC/P=MR/P=MC
If firms in a perfectly competitive industry are earning an economic profit and new firms enter...
If firms in a perfectly competitive industry are earning an economic profit and new firms enter the industry, then A) the new firms must incur an economic loss. B) the existing firms' economic profit decreases. C) consumer surplus decreases. D) there must be external benefits to consumption of the good. E) Both answers A and B are correct.
1a. The market is in long-run equilibrium if: There are no new firms entering the markets,...
1a. The market is in long-run equilibrium if: There are no new firms entering the markets, but firms will high costs may exist. Firms are earning zero economic profits. Firms are charging the market price. Firms are earning economic profits 1b. The following information is relevant for an individual firm operating in a perfectly competitive market. Output 30 Variable Cost $2,700 Fixed Cost $130 Marginal Cost $80 Price $80 What will be the firm's production decision in the short-run? Exit...
If firms in a monopol istically competitive industry are experiencing economic losses in the short run,...
If firms in a monopol istically competitive industry are experiencing economic losses in the short run, the industry some firms will demand until each firm earns a normal profit exit; increasing exit; reducing enter; increasing enter; reducing In an oligopoly, all the firms: compete over price alone. take their competitors into account when they make pricing decisions. Ocompete over advertising. face easy entry and exit from the market.
Question 60 5 pts If there are five firms in an industry with equal market shares,...
Question 60 5 pts If there are five firms in an industry with equal market shares, then the Herfindahl-Hirschman Index equals Question 30 5 pts If firms in a monopolistically competitive industry are incurring short-run economic losses, then in the long run new forms producing the exact same product will enter the industry and this entry will continue until economic profits are eliminated. new firms producing close substitutes will enter the industry and this entry will continue until economic profits...
If firms are making positive economic profits in the short run, then in the long run:...
If firms are making positive economic profits in the short run, then in the long run: A. firms will leave the industry B. industry output will rise and the price will rise. C. the short-run industry supply curve will shift leftward D. new firms will enter the industry
i need help pls last chance 21... In monopolistic competition, when firms make an economic profit,...
i need help pls last chance 21... In monopolistic competition, when firms make an economic profit, A. new firms enter the industry so that the price falls and the economic profit eventually falls to zero. B. the existing firms continue to make an economic profit in the long run because of product differentiation. C. new firms enter the industry so that output decreases and the economic profit increases. D. new firms enter the industry so that output increases and the...
please answer and explain
21) If all firms in a perfectly competitive industry are experiencing economic losscs, then: 21 A) sume fins will exit the industry, until sconoinic profit is positive B) soitie firms will exit the industry, uieic profit equals zero. C) some firms will exit the indusiry, until accounting prolfit equals zero. D) all existing firms will stay in the industry, hoping for better times. 23) If the market fur huiler is perfectly competit A) upward sloping. B)...
Help with #17 please
17. Which of the following statements is correct? A. Economic profits encourage firms to enter an industry; losses encourage firms to leave. B. Economic profits encourage firms to leave an industry; profits encourage firms to leave. C. Economic losses encourage firms to enter an industry; profits encourage firms to leave. D. Economic profits and losses have no significant impact on the growth or decline of an industry.
If firms in a monopol istically competitive industry are experiencing economic losses in the short run, the industry some firms will demand until each firm earns a normal profit exit; increasing exit; reducing enter; increasing enter; reducing In an oligopoly, all the firms: compete over price alone. take their competitors into account when they make pricing decisions. Ocompete over advertising. face easy entry and exit from the market.
Question 60 5 pts If there are five firms in an industry with equal market shares, then the Herfindahl-Hirschman Index equals Question 30 5 pts If firms in a monopolistically competitive industry are incurring short-run economic losses, then in the long run new forms producing the exact same product will enter the industry and this entry will continue until economic profits are eliminated. new firms producing close substitutes will enter the industry and this entry will continue until economic profits...
If firms are making positive economic profits in the short run, then in the long run: A. firms will leave the industry B. industry output will rise and the price will rise. C. the short-run industry supply curve will shift leftward D. new firms will enter the industry
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