If purely competitive sellers were earning excess profits, you would expect:
A) existing sellers to collect their profits and leave the market over the long run.
B) new sellers to enter the market, and the market price to fall over the long run.
C) new sellers to enter the market, and the market price to rise over the long run.
D) no sellers to enter the market, and the market price to remain where it is over the long run.
Correct Answer:
Verified
Q176: Which of the following is a primary
Q177: Ranking the market structures from that with
Q178: Which of the following statements about pure
Q179: The individual seller's demand curve in pure
Q180: An increase in the price a pure
Q182: If, over the long run, an increase
Q183: The market structure characterized by many small
Q184: The market structure where a seller earns
Q185: Mutual interdependence means that:
A) businesses depend on
Q186: The following demand curve for an individual
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