should proceed producing in the brief run, but leave the market in the long run if the case persists.
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Which of the complying with is true concerning purely compete industries? A. There will certainly be economic losses in the long run because of cut-throat competition.B. Financial profits will certainly persist in the long run if customer demand is solid and stable.C. In the brief run, firms may incur economic losses or earn financial profits, however in the lengthy run they earn common profits.D. Over there are financial profits in the long run, but not in the quick run.
In the short run, firms may incur financial losses or earn economic profits, but in the long run castle earn normal profits.
If a completely competitive certain is producing at the grandfather = MC calculation level and earning an economic profit, then:
Which of the complying with statements is correct? A. Economic profits induce firms to go into an industry; casualty encourage firms to leave.B. Economic profits induce this firm to leave an industry; revenues encourage firms come leave.C. Financial profits and losses have actually no far-reaching impact top top the development or decline of one industry.D. Normal profits will cause an sector to expand.
Suppose a purely competitive, increasing-cost industry is in long-run equilibrium. Currently assume that a to decrease in customer demand occurs. After every resulting adjustments have actually been completed, the brand-new equilibrium price:
Which that the complying with statements is correct? A. The long-run supply curve for a completely competitive increasing-cost sector will it is in upsloping.B. The long-run it is provided curve because that a completely competitive increasing-cost industry will be perfectly elastic.C. The long-run it is provided curve for a completely competitive industry will be much less elastic 보다 the industry"s short-run it is provided curve.D. The long-run supply curve because that a purely competitive decreasing-cost sector will be upsloping.
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if 100 units deserve to be developed for $100, climate 150 deserve to be created for $150, 200 because that $200, and so forth.
Assume a completely competitive increasing-cost sector is originally in long-run equilibrium and that rise in customer demand occurs. ~ all financial adjustments have been perfect product price will certainly be:
Assume a completely competitive, increasing-cost market is in long-run equilibrium. If a decline in demand occurs, this firm will:
If a purely competitive constant-cost market is realizing financial profits, we deserve to expect market supply to:
