Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fill in the blanks to complete the following statement. Drag word(s) below to fill in the blank(s) in the passage. When firms earn positive profits

Fill in the blanks to complete the following statement. Drag word(s) below to fill in the blank(s) in the passage. When firms earn positive profits in a competitive market, it means that - . This entices other firms to - the market, causing the - curve to shift - . At the new equilibrium, the - is driven down and the - increases. For firms in the market this results in decreased profits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics An Intuitive Approach with Calculus

Authors: Thomas Nechyba

1st edition

538453257, 978-0538453257

Students also viewed these Economics questions

Question

What community placements are available for practica?

Answered: 1 week ago