7. For perfectly competitive firms, economic profit exists only in the short run. Why? ...

Question:

7. For perfectly competitive firms, economic profit exists only in the short run. Why?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Microeconomics

ISBN: 9781913689681

7th Edition

Authors: Fred M. Gottheil

See More Books

Question Posted: Nov 08, 2024 02:01 AM

See More Questions

To answer these questions, you will need to read Chapter 9, Market Equilibrium & Product Price - Imperfect Competition and please good Good format. #. Explain the 3 types of "Imperfect" market...
In a perfectly competitive market, if a firm finds it is producing an amount of output such that its marginal cost is less than its price, it will 1 point A) immediately shut down for the short run....
HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...
A section of a warehouse is 31 feet high. Boxes that are each two feet high are to be stacked in the warehouse. How many boxes can be stacked one on top of the other? O a. 29 O b. 33 O c. 62 O d. 15.5
Describe how a GSS can be used at your school or university.
A realtor sold a house on August 31, 1997, for $150,000 to a buyer in which a 20% down payment was made. The buyer took a 15-year mortgage on the property with an effective interest rate of 8% per...
7. For perfectly competitive firms, economic profit exists only in the short run. Why?
Suppose GNC, a vitamin and supplement supplier, would like to investigate the relationship between the size of an order and the age of the customer who ordered it. This information could allow GNC to...
Find the volume of the solid generated by revolving the region bounded by the given line and curve about the x-axis. y equals StartRoot 81 minus x squared EndRoot , yequals 0 Question content area...
6. Economists refer to perfectly competitive firms as price-takers and to monopolies as price-makers. Why?
8. Why are demand curves for perfectly competitive firms horizontal and for firms in monopolistic competition downward sloping?
Which reorganizations allow the shareholders to divide one corporation into two or more corporations?
Suppose in 10 years you needed to have saved $50,000 for a capital investment of your organization. You believe you can save $2,500 at the end of each year. What rate of return is needed to attain...
1. A manufacturing entity receives a grant of $1m towards the purchase of a machine on 1 January 20X3. The grant will be repayable if the entity sells the asset within 4 years, which it does not...
9. Nobody is taller than the Empire State Building. (Px: x is a person; Txy: x is taller than y; e: Empire State Building) 10. Nothing is heavier than itself. (Hxy: x is heavier than y) 11. Cats are...
13. [0.5/1 Points] DETAILS PREVIOUS ANSWERS BBUNDERSTAT12 7.3.026.S. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER For this problem, carry at least four digits after the decimal in your calculations....
Why is trapping and euthanasia of feral horses considered an inadequate solution to the feral horse issue in the U.S.? (Horses Lesson) Group of answer choices Lack of funding to carry out these...
A block weighing 75.0 N rests on a plane inclined at 25.0 to the horizontal. A force F is applied to the object at 40.0 to the horizontal, pushing it upward on the plane. The coefficients of static...
In Exercises 105108, evaluate each expression without using a calculator. log(ln e)

7. For perfectly competitive firms, economic profit exists only in the short run. Why? ...

Question:

Step by Step Answer:

Principles Of Microeconomics

Students also viewed these Business questions