Implication of freedom of entry and exit to firms
Describe the implication of freedom of entry and exit to the firms beneath perfect competition.
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The firms enter the organization whenever they find the existing firms are earning super normal profits. Their entry increases output of the industry, brings down the market price and therefore reduce gains. The entry continues till gains are decresed to normal (or zero). The firms begin leaving the industry whenever they are facing losses. This decreses output of the industry, increases market price and decrease losses. The exit continues till losses are wiped out.
Tell me the answer of this question. Collective bargaining agreements cover: A) wages and hours. B) union status. C) seniority and job opportunities. D) all of the above.
Perpetuity is a: (w) life insurance policy which matures upon retirement. (x) nondepreciable piece of capital. (y) financial asset which pays its owner an annual income forever. (z) pyramid scheme as a chain letter. Q : Probable quantity of the good by price Price discrimination which successfully increases profit does NOT needs the firm to be capable to: (1) separate the market within different groups along with different demand elasticities. (2) maintain entry barriers which defend a firm’s market
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