Positive economic profits result in:
A) increased sales
B) increased entry into the industry
C) increased costs
D) increased consolidation of firms in an industry
Correct Answer:
Verified
Q8: A decrease in the demand for grain
Q9: Higher taxes on gasoline result in:
A) a
Q10: In a competitive industry equilibrium:
A) firms earn
Q11: The best strategy for a competitive firm
Q12: If a competitive firm increased advertising to
Q14: Entry of new firms into the floral
Q15: A market is a:
A) marketplace
B) physical location
Q16: The supply curve represents:
A) the equilibrium consumption
Q17: The demand curve represents:
A) the equilibrium consumption
Q18: The supply curve is derived from:
A) the
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