In a competitive market,economic profits will
A) Cause existing firms to expand production.
B) Potentially last a long time.
C) Cause new firms to leave the market.
D) Not be possible,even in the short run.
Correct Answer:
Verified
Q1: Investment decisions are made on the basis
Q2: Which of the following is true about
Q4: In a competitive market where firms are
Q5: Which of the following is characteristic of
Q6: If someone invents a more cost effective
Q7: Which of the following is an investment
Q8: If economic profits are earned in a
Q9: The equilibrium price in a competitive market
A)Ensures
Q10: In making an investment decision,an entrepreneur
A)Makes a
Q11: In a competitive market where firms are
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