Under all the various types of market structures, firms must eventually earn some economic profits for...
Under all the various types of market structures, firms must eventually earn some economic profits for sustainable operations.
This statement is
Group of answer choices
true
false
Homework Answers
False
Explanation: In perfect competition or in monopolistic competition firms earn zero economic profit in the long-run.
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Under all the various types of market structures, firms
must eventually earn some economic profits for...
Suppose that some firms in a perfectly competitive market are making positive economic profits. Which one...
Suppose that some firms in a perfectly competitive market are making positive economic profits. Which one of the following would not be expected to occur? A. The supply curve will shift to the right. B. More firms would enter the market C. The equilibrium quantity sold will fall D. The equilibrium price will fall. E. All firms’ economic profits would eventually be driven to zero at equilibrium.
A monopolist, being the sole seller in a market, is assured of positive economic profits. Group...
A monopolist, being the sole seller in a market, is assured of positive economic profits. Group of answer choices True False
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...
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be su...
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
Some firms have engaged in backward vertical integration strategies in order to appropriate the economic profits...
Some firms have engaged in backward vertical integration strategies in order to appropriate the economic profits that would have been earned by suppliers selling to them. How is this motivation for backward vertical integration related to the opportunism logic for vertical integration described in this chapter? (Hint: Compare the competitive conditions under which firms may earn economic profits to the competitive conditions under which firms will be motivated to avoid opportunism through vertical integration).
Which two of the following market types have the least potential for firms to earn positive...
Which two of the following market types have the least potential for firms to earn positive economic profits in the long-run? <choose 2> Perfect competition Monopolistic competition Oligopoly Monopoly
Suppose that some firms in a perfectly competitive market are making positive economic profits. Which one...
Suppose that some firms in a perfectly competitive market are making positive economic profits. Which one of the following would not be expected to occur? a. All firms’ economic profits would eventually be driven to zero at equilibrium. b. The equilibrium quantity sold will fall. c. The equilibrium price will fall. d. The supply curve will shift to the right. e. More firms would enter the market. . Which one of the following is not characteristic of a pure monopoly?...
Below are eight descriptions of firms operating under various market conditions. For each item, determine whether the market is a monopoly or a market with perfect competition.
Below are eight descriptions of firms operating under various market conditions. For each item, determine whether the market is a monopoly or a market with perfect competition.Items (8 items) (Drag and drop into the appropriate area below)A firm in this market has no market powerA firm in this market produces where P > MCA firm in this market has significant market powerA firm in this market is one of many small competitorsA firm in this market has no competitorsA firm in this...
In which market structures would we usually see economic profits at equilibrium? a. only in monopoly...
In which market structures would we usually see economic profits at equilibrium? a. only in monopoly b. in monopoly and in monopolistic competition c. in monopoly and strong or cooperating oligopolies d. in monopoly and in differentiated oligopoly e. in all market structures Group of answer choices Suppose a price taker market has been at equilibrium until an increase in demand increases the market price. In the future, ceteris paribus, we should expect to see a. the price stay at...
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.
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
Which two of the following market types have the least potential for firms to earn positive economic profits in the long-run? <choose 2> Perfect competition Monopolistic competition Oligopoly Monopoly
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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