Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following does not need to be true for long-run equilibrium to be attained? Group of answer choices Constant returns to scale are

Which of the following does not need to be true for long-run equilibrium to be attained? Group of answer choices Constant returns to scale are reached. The latest in technology is utilized. Profit is being maximized. There is no incentive to enter or exit the industry. Economic profits equal zero

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_2

Step: 3

blur-text-image_3

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

Business Mathematics In Canada

Authors: Ernest Jerome

7th edition

978-0071091411, 71091416, 978-0070009899

More Books

Students also viewed these Economics questions

Question

=+a) Fit a regression model with just Year as the predictor.

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago

Question

The personal characteristics of the sender

Answered: 1 week ago

Question

The quality of the argumentation

Answered: 1 week ago