--%>

In long-run equilibrium earning of zero economic profit

When, in a perfectly competitive industry, where the market price facing a firm is above its average total cost on the output here marginal revenue equivalents marginal cost, in that case: w) firms are breaking even. x) new firms are attracted to the industry. y) existing firms will exit the industry. z) market supply will remain constant.

Please choose the right answer from above...I want your suggestion for the same.

   Related Questions in Business Economics

  • Q : What are the scientific method that

    What are the scientific method that Economists use to establish theories, laws, and principles?

  • Q : Prices are the automatic regulator

    “Prices are the automatic regulator that tends to keep production and consumption in line with each other.”  Explain.

  • Q : Human Resource Management problems

    Question Write a report on a local firm that faces Human Resource Management problems. Pick two major problems and provide solutions to it. The company selected must

  • Q : Determine the productively efficiency

    To be productively efficient, a country should: (w) maximize the satisfaction attainable from its budget. (x) be concerned only with macroeconomic analysis. (y) concentrate on removing scarcity. (z) maximize the value of output produced through specif

  • Q : Answer the following questions based on

    The dataset used in this question contains data on 180 economics journals for the year 2000. The variable descriptions are as follows: logoclc - log of the number of library subscription loglibcit - log of the library subscription price per citation.

  • Q : Describe four important areas to

    Describe four important areas to emphasize Expenditures?

  • Q : Allocative Mechanisms-market based

    The market-based economic system: (1) Appears to be ‘natural’ as it has existed in all societies. (2) Has dominated the economic relationships in United States since from the year1492. (3) Guided resource allocation in middle ages. (4) Is

  • Q : Absolute advantage in international

    One early involvement of Adam Smith to the theory of gains by international trade, although later thoroughly revised and refined through David Ricardo, was the conception of: (1) mercantilism. (2) absolute advantage. (3) comparative a

  • Q : Describe the Euro Describe the Euro?

    Describe the Euro?

  • Q : What do you mean by Shuffling the Deck

    What do you mean by Shuffling the Deck?