Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Firms leave a competitive industry in the long run when Group of answer choices price is less than the minimum of marginal cost. price is

Firms leave a competitive industry in the long run when Group of answer choices price is less than the minimum of marginal cost. price is less than the minimum of average variable cost. the return on investment is less than 10 percent. price is less than the minimum of average total cost. price is equal to the minimum of average total cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Understanding Basic Statistics

Authors: Charles Henry Brase, Corrinne Pellillo Brase

6th Edition

978-1133525097, 1133525091, 1111827028, 978-1133110316, 1133110312, 978-1111827021

Students also viewed these Economics questions