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.

View Complete Question

Related Questions in Microeconomics

Q : Determine demands for relatively price

When technological advances within agriculture generate bumper crops of farm products for that demands are relatively price inelastic, in that case the: (w) average income of farmers will decline relative to per capita income for the

Q : Determine demand when total revenue and

When raising ticket prices for Brad Paisley concert tickets raises total ticket revenue, in that case the demand for the concert tickets: (i) perfectly price inelastic. (ii) relatively price inelastic

Q : Long run equilibrium for purely

When a purely competitive industry is into long run equilibrium, in that case for the typical firm: (a) P = FC = TC = MC = MR = AR = AC. (b) P = AR = MR = SRMC = SRAC = LRMC = LRAC. (c) pure economic profits reward especially effectiv

Q : Average cost minimization at level of

HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. There level of sales and production at that HoloIMAGine would minimize its average cost [ATC] of production corresponds to as: (1)

Q : Problem on shortages or surpluses I

I have a problem in economics on Problem on shortages or surpluses. Please help me in the following question. No shortages or surpluses exist if: (1) Central planners set prices which equivalent production costs. (2) The market is in equilibrium. (3)

Q : Profit Maximization in Labor Markets

Can someone help me in finding out the right answer from the given options. All the profit maximizing organizations employ labor up to the point where: (1) MR MC is maximized. (2) VMP = MFC. (3) VMP = MRP. (4) MRP = MFC. (5) VMP = w.

Q : Efficient purely competitive market in

When there are no externalities, in that case a purely competitive market in equilibrium is efficient since: (w) P = AC = MC. (x) total revenue equals total cost [TR = TC]. (y) P = MSB = MSC = MC. (z) MSB = MSC = MR > P.

Q : Change in prices after short run demands

Can someone please help me in finding out the accurate answer from the following question. The changes in gasoline prices do not change short-run demands for (1) Bigger versus smaller cars. (2) Gasoline. (3) Alternative forms of the transportation. (4) Batteries, Tire

Q : Problem regarding law of Diminishing

Can someone help me in finding out the right answer from the given options. According to the law of diminishing marginal utility, the longer that Chris and Lee kiss: (i) The less invested each will be in enduring this relationship. (ii) The closer they are to arriving

Q : Arc elasticity for labor of demand The

The arc elasticity of Bosun’s demand for labor between point d and point e is roughly: (1) one. (2) 1.25. (3) 2.50. (4) 3.75. (5) 5.00.

Discover Q & A

Leading Solution Library

Avail More Than 1423178 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1954980
Asked

3,689

Active Tutors

1423178

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment