--%>
Assignment Help - homework help

Decrease prices as firms enter the industry

When most firms in a competitive industry experience economic profits, in that case long run competitive pressures tend to cause: (w) greater economic profits. (x) prices to decrease as firms enter the industry. (y) industry output to fall. (z) several firms to leave the industry.

Hello guys I want your advice. Please recommend some views for above Economics problems.

   Related Questions in Microeconomics

  • Q : Characteristics of purely competitive

    Characteristics of purely competitive markets do not comprise: (w) homogeneous products. (x) large numbers of potential buyers. (y) large numbers of potential sellers. (z) the capability of sellers to set prices. I

    		•
  • Q : Rain affects play The ABC industry in

    The ABC industry in UK had poor sales in the summer of 2007. This practice explores why, employing economic analysis. It considers how the forces in the direction of an equilibrium price might affect a firm.

    		•
  • Q : Labor Contracts of Check-off Provisions

    When a collective bargaining contract comprises a ‘check-off provision’: (1) Union workers can be fired when they don’t meet the production quotas. (2) Firms gather the union dues through deducting them from the paychecks. (3) Workers are needed to d

    		•
  • Q : Output level of profit maximizing of

    The profit maximizing competitive firm in illustrated graph will: (i) produce output level q5. (ii) minimize total costs by producing output level q3. (iii) experience fixed costs equal to 0P3fq4. (iv) produce output level q4. (v) inevitably experienc

    		•
  • Q : Labor Market Equilibrium Can someone

    Can someone help me in finding out the right answer from the given options. The wages tend to rise if labor demand: (i) And supply both reduce. (ii) Reduces and supply rises. (iii) And supply both rise. (iv) Rises and supply reduces.

    		•
  • Q : Open Shops problems Can someone help me

    Can someone help me in finding out the right answer from the given options. Firms which employ workers devoid of needing any form of either dues or union membership are: (i) Agency shops. (ii) Laissez-faire shops. (iii) Closed shops. (iv) Union shops. (v) Open shops.<

    		•
  • Q : Rises price elasticity of demand for a

    The price elasticity of demand for a good will tend to rise as the: (i) number of obtainable substitutes increases. (ii) consumer income level increases. (iii) good is a less significant budget item. (iv) time permitted for response decreases. (v) ela

    		•
  • Q : Characteristic of Vertical Integration

    Vertical integration is the characteristic of all firms which: (1) Control multiple features of the production of an output from raw materials to the retail sales. (2) Operate as international cartels, dealing mainly in non-renewable resources. (3) Mo

    		•
  • Q : Demands possibly the least income

    Demands are possibly the least income elastic for very poor Americans for: (i) automobile services. (ii) Big Macs. (iii) lard. (iv) housing. (v) health care. Can anybody suggest me the proper expla

    		•
  • Q : Operate market by economies of scale

    When a firm experiences economies of scale which span the bulk of demand in the market, in that case the market which this operates within will tend to: (i) evolve into a monopoly. (ii) become inefficient before this gets extremely large. (iii) seldom

    		•