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.
Correct Answer:
Verified
Q3: For a competitive market in the long
Q4: Which of the following is true about
Q5: Marginal cost is the increase in total
Q6: The equilibrium price in a competitive market
A)Ensures
Q7: If someone invents a better way to
Q9: Which of the following is an investment
Q10: If a new sushi restaurant opens,then
A)The market
Q11: If the price of ricotta cheese,an ingredient
Q12: Which of the following is characteristic of
Q13: If economic profits are earned in a
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