In the short run, firms may earn profits or losses, but in the long run profits...
In the short run, firms may earn profits or losses, but in the long run profits are _________
Homework Answers
In the short run the firm may earn a profit or a loss but in the long run the profits will be zero i.e. the firm will be only breaking even that is the point where there is no profit or loss.
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In the short run, firms may earn profits or losses, but in the
long run profits...
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
is din incent d. Oligopolistic firms earn profits in the long run only if there are...
is din incent d. Oligopolistic firms earn profits in the long run only if there are significant barriers to entry e. Three examples of entry barriers that firms with market power can create are and G
Cost curves, profits/losses, and long-run equilibrium: a. Draw typical short run average cost and marginal cost...
Cost curves, profits/losses, and long-run equilibrium: a. Draw typical short run average cost and marginal cost curves for a firm (costs on the vertical axis, q on the horizontal axis), such that marginal cost = average cost= 6 at q=10. b. Suppose this firm operates as a perfect competitor in a market with a short run equilibrium price of $5. Illustrate on your graph the area indicating the short run profit or loss experienced by this firm, given the cost...
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,...
Question 10 1.5 pts Monopolistic competitive firms in the long run earn: positive economic profits. e...
Question 10 1.5 pts Monopolistic competitive firms in the long run earn: positive economic profits. e zero pure economic profits. negative economic profits. none of these.
Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly...
Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly d. Monopoly e. c and d only All firms produce where a. marginal benefits are greater than marginal profits b. short-run profits are less than long-run profits c. marginal revenues are greater than or equal to marginal costs d. average total costs are greater than marginal costs A perfect competitor is a __________ and can earn economic profits ____________. a. price maker, in both...
QUESTION 7 Monopolistic competitive firms in the long run earn: positive economic profits. zero pure economic...
QUESTION 7 Monopolistic competitive firms in the long run earn: positive economic profits. zero pure economic profits. negative economic profits. Positive, zero, or negative economic profits. QUESTION 8 Which of the following statements best describes firms under monopolistic competition? Profits will be positive in the long run. Price always equals average variable cost. In the long run, positive economic profit will be eliminated. Marginal revenue equals minimum average total cost in the short run. QUESTION 9 Which of the following...
In the (short, long) run, monopolistically competitive firms will make (large,zero,or small) economics profits- that is,...
In the (short, long) run, monopolistically competitive firms will make (large,zero,or small) economics profits- that is, they will make a (normal, disappointing), rate of return. Pick the answers out of the choices in the parentheses.
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...
28. Refer to Figure 14-13. If the price is $2 in the short run, what will happen in the long run? a. Individual f...
28. Refer to Figure 14-13. If the price is $2 in the short run, what will happen in the long run? a. Individual firms will earn positive economic profits in the short run, which will entice other firms to enter the industry b. Individual firms will earn negative economic profits in the short run, which will cause some firms to exit the industry. c. Because the price is below the firm's average variable costs, the firms will shut down. d....
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
is din incent d. Oligopolistic firms earn profits in the long run only if there are significant barriers to entry e. Three examples of entry barriers that firms with market power can create are and G
Question 10 1.5 pts Monopolistic competitive firms in the long run earn: positive economic profits. e zero pure economic profits. negative economic profits. none of these.
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...
28. Refer to Figure 14-13. If the price is $2 in the short run, what will happen in the long run? a. Individual firms will earn positive economic profits in the short run, which will entice other firms to enter the industry b. Individual firms will earn negative economic profits in the short run, which will cause some firms to exit the industry. c. Because the price is below the firm's average variable costs, the firms will shut down. d....
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