When new entrants into a competitive market have higher costs than existing firms,
A) accounting profits will be the primary determinant of entry into the market.
B) sunk costs become an important determinant of the short-run entry strategy.
C) market price will rise.
D) long-run supply is constant.
Correct Answer:
Verified
Q171: If a competitive firm is currently producing
Q175: Suppose a competitive market has a horizontal
Q175: For a certain firm, the 100th unit
Q176: The long-run supply curve for a competitive
Q178: Figure 14-13
Suppose a firm in a competitive
Q179: In the transition from the short run
Q181: Suppose that a competitive market is initially
Q183: At the profit-maximizing level of output,
A)marginal revenue
Q184: Figure 14-14 Q239: Consider a competitive market with a large
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