FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If perfectly competitive firms exit a market, the Select one: a. output of the industry increases. b. profits of the remaining firms decrease. c. market

image text in transcribed

If perfectly competitive firms exit a market, the Select one: a. output of the industry increases. b. profits of the remaining firms decrease. c. market supply curve shifts leftward. d. price of the good or service falls

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

Mostly Harmless Econometrics An Empiricist's Companion

Mostly Harmless Econometrics An Empiricist's Companion

Authors: J D Angrist, Joshua D Angrist

1st Edition

ISBN: 0691120358, 9780691120355

More Books

Students also viewed these Economics questions

Question

★★★★★
A decision maker subjectively assigned the following probabilities to the four outcomes of an experiment: P(E1) = .10, P(E2) = .15, P(E3) = .40, and P(E4) = .20. Are these probability assignments...

Answered: 1 week ago

Question

★★★★★
Show that - f/c evaluated at the Fermi level = has the value (4t)1. Thus the lower the temperature, the steeper the slope of the Fermi-Direct function.

Answered: 1 week ago

Question

★★★★★
2. What do those doing the actual hiring at Zipcar feel are important characteristics to find in potential employees?

Answered: 1 week ago

Question

★★★★★
Gallop, Inc. is a toy manufacturer specializing in games for boys and girls aged eight to twelve. On March 30, Gallop had predicted first-quarter earnings of $.20 per share. On April 15, Gallop...

Answered: 1 week ago

Question

★★★★★
If perfectly competitive firms exit a market, the Select one: a. output of the industry increases. b. profits of the remaining firms decrease. c. market supply curve shifts leftward. d. price of the...

Answered: 1 week ago

Question

★★★★★
Uncovering Your Implicit Biases: An Exercise for Teachers https://www.cultofpedagogy.com/blindspots/ 1. 2-3 Big Ideas (Summary): 2. The Biggest Takeaway: 3. I will think differently about... 4. 2...

Answered: 1 week ago

Question

★★★★★
LAND DESCRIBED AS FOLLOWS Schains 21LINKS Achains 21 Links N 40 30' E 4 chains 25 LINKS 3 chains H 49 30' W. OLD 5 chains N 40 30' E FARM ROAD 1. Determine the area of the enclosed property in square...

Answered: 1 week ago

Question

★★★★★
Problem 2-8 Corporate Taxes (LG2-3) 640 Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.)...

Answered: 1 week ago

Question

★★★★★
Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year ended December 31, 20X4. In planning the audit, Marilyn is attempting to develop expectations for planning...

Answered: 1 week ago

Question

★★★★★
Calculate the cash flow for each of the given cases. a. Cash paid for advertising: Advertising expense $62,000 Prepaid advertising, January 1 13,000 Prepaid advertising, December 31 15,000 Cash Flow...

Answered: 1 week ago

Question

★★★★★
a. What values did your parents or guardians attempt to instill in you?

Answered: 1 week ago

Question

★★★★★
7. Identify six intercultural communication dialectics.

Answered: 1 week ago

Question

★★★★★
2. How did business and political interests influence what early intercultural communication researchers studied and learned?

Answered: 1 week ago

Previous QuestionNext Question