Homework Answers
Answer
Option 1
exit; increasing
the firms are making losses so in the long run, the firms exits up
to the remaining firms earn normal profit by increasing their
demand.
Answer
Option 2
take their competitors into account when they make pricing
decisions
The oligopoly has few firms in the market with or without product
differentiation so some firms may compete on the product
differentiation like advertising but all the firm considers
competitors while they make pricing decisions.
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If firms in a monopol istically competitive industry are experiencing economic losses in the short run,...
1. In the short run, a monopolist may A. attract other firms into the industry B....
1. In the short run, a monopolist may A. attract other firms into the industry B. upgrade technology C. incur loss D. charge the lowest price possible to attract buyers 2. In both monopolistic competition and oligopoly market structures A. firms may enter and exit the industry easily B. consumers perceive differences among the products of various competitors C. economic profits may be earned in the short run and long run D. producers collude tacitly 3. In the short run,...
21) If all firms in a perfectly competitive industry are experiencing economic losscs, then: 21 A...
please answer and explain
21) If all firms in a perfectly competitive industry are experiencing economic losscs, then: 21 A) sume fins will exit the industry, until sconoinic profit is positive B) soitie firms will exit the industry, uieic profit equals zero. C) some firms will exit the indusiry, until accounting prolfit equals zero. D) all existing firms will stay in the industry, hoping for better times. 23) If the market fur huiler is perfectly competit A) upward sloping. B)...
Question 60 5 pts If there are five firms in an industry with equal market shares,...
Question 60 5 pts If there are five firms in an industry with equal market shares, then the Herfindahl-Hirschman Index equals Question 30 5 pts If firms in a monopolistically competitive industry are incurring short-run economic losses, then in the long run new forms producing the exact same product will enter the industry and this entry will continue until economic profits are eliminated. new firms producing close substitutes will enter the industry and this entry will continue until economic profits...
If the donut industry is perfectly competitive and is in long-run equilibrium, then the price of...
If the donut industry is perfectly competitive and is in long-run equilibrium, then the price of a donut Question 20 options: A) equals long-run average cost. B) is greater than marginal cost. C) is greater than long-run average cost. D) is greater than short-run average cost. The industry that produces zangs is in long-run equilibrium. Then the demand for zangs increases permanently. As a result, firms in the industry will ________. Some firms will ________ the industry, and the industry...
are making an economic Today, firms in a perfectly competitive market run, firms will profit. In...
are making an economic Today, firms in a perfectly competitive market run, firms will profit. In the long firns in a perfectly competitive market are making the market until all firms in the market onomic e) exit, producing at the minimum point on their long-run average cost d) a) exit; covering only their total fixed costs b) enter, making zero economic profit enter, making zero normal profit an economic profit when new firms enter 46. The firms in a perfectly...
¬8) Assume a perfectly competitive industry. In the short run suppose that the market price for the good is $10. You als...
¬8) Assume a perfectly competitive industry. In the short run suppose that the market price for the good is $10. You also know that the minimum point on the average variable cost curve occurs at $6 per unit while the minimum point on the average total cost curve occurs at $11 per unit. From this information you know that in the short run, firms in this industry ____ and in the long run, holding everything else constant, there will be...
12. In the long run: A. there will be no entry or exit of firms in...
12. In the long run: A. there will be no entry or exit of firms in this industry B. new firms enter the industry and curve A shifts to the right. C. firms exit this industry and curve A shifts to the left. D. new firms enter this industry and curve F shifts to the right. 13. The long-run equilibrium price in this industry will be: A. Pi 14. The industry's leng-run supply curve is curve: A. C and the...
If firms are making positive economic profits in the short run, then in the long run:...
If firms are making positive economic profits in the short run, then in the long run: A. firms will leave the industry B. industry output will rise and the price will rise. C. the short-run industry supply curve will shift leftward D. new firms will enter the industry
1)in the short run, firms in the market _______. In the long run, some firms _______...
1)in the short run, firms in the market _______. In the long run, some firms _______ the market. A.break even; enter B.make an economic profit; enter C.make an economic profit; exit D.incur an economic loss; exit 2) Market supply ______ and the market price ______. A.increases; falls B.increases; rises C.decreases; rises until it reaches the firms' minimum average variable cost D.decreases; rises until it reaches the firms' minimum average total cost 3)
Some monopolistic competitive firms earn positive economic profits in the long run because O a. each...
Some monopolistic competitive firms earn positive economic profits in the long run because O a. each firm produces and sells a homogeneous product. O b. they have successfully differentiated their products from their competitors' products. O c. there is easy entry and exit. O d. there are high barriers to entry in monopolistic competition.
please answer and explain
21) If all firms in a perfectly competitive industry are experiencing economic losscs, then: 21 A) sume fins will exit the industry, until sconoinic profit is positive B) soitie firms will exit the industry, uieic profit equals zero. C) some firms will exit the indusiry, until accounting prolfit equals zero. D) all existing firms will stay in the industry, hoping for better times. 23) If the market fur huiler is perfectly competit A) upward sloping. B)...
Question 60 5 pts If there are five firms in an industry with equal market shares, then the Herfindahl-Hirschman Index equals Question 30 5 pts If firms in a monopolistically competitive industry are incurring short-run economic losses, then in the long run new forms producing the exact same product will enter the industry and this entry will continue until economic profits are eliminated. new firms producing close substitutes will enter the industry and this entry will continue until economic profits...
are making an economic Today, firms in a perfectly competitive market run, firms will profit. In the long firns in a perfectly competitive market are making the market until all firms in the market onomic e) exit, producing at the minimum point on their long-run average cost d) a) exit; covering only their total fixed costs b) enter, making zero economic profit enter, making zero normal profit an economic profit when new firms enter 46. The firms in a perfectly...
12. In the long run: A. there will be no entry or exit of firms in this industry B. new firms enter the industry and curve A shifts to the right. C. firms exit this industry and curve A shifts to the left. D. new firms enter this industry and curve F shifts to the right. 13. The long-run equilibrium price in this industry will be: A. Pi 14. The industry's leng-run supply curve is curve: A. C and the...
If firms are making positive economic profits in the short run, then in the long run: A. firms will leave the industry B. industry output will rise and the price will rise. C. the short-run industry supply curve will shift leftward D. new firms will enter the industry
Some monopolistic competitive firms earn positive economic profits in the long run because O a. each firm produces and sells a homogeneous product. O b. they have successfully differentiated their products from their competitors' products. O c. there is easy entry and exit. O d. there are high barriers to entry in monopolistic competition.
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