Free entry and exit of firms is a characteristic of:
A) all industries in the U. S. economy.
B) perfectly competitive industries.
C) centralized economies.
D) industries in which firms are earning positive economic profit.
Correct Answer:
Verified
Q72: Barriers to entry are forces that:
A)limit consumers
Q73: The allocative function of price cannot operate
Q74: Assume that all firms in this industry
Q75: Assume that all firms in this industry
Q76: The figure below depicts the short-run market
Q78: Some people have argued that the government
Q79: In a market with barriers to entry:
A)firms
Q80: If resources are misallocated in a perfectly
Q81: Unlike economic profit, economic rent:
A)can be less
Q82: Mary Jane is willing to babysit for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents