In perfectly competitive markets,economic profits
A) send a signal to other producers to enter the market.
B) will decrease the industry supply curve.
C) could also be called explicit costs.
D) will increase the industry demand curve.
Correct Answer:
Verified
Q203: Under perfect competition
A)no firm has any influence
Q204: At an output of 17,ATC is $20
Q205: When starting dot.com businesses,such as Amazon.com,many of
Q206: At an output of 156,MC = $17,ATC
Q207: Perfectly competitive firms
A)are only found occasionally.
B)have horizontal
Q209: Which of the following statements is true?
A)Perfect
Q210: Under perfect competition
A)accounting profits are always zero
Q211: Marginal revenue at the profit-maximizing/loss-minimizing amount is
A)$4.
B)$12.
C)$14.
D)$20.
Q212: The profit-maximizing/loss-minimizing level of output
A)100 units.
B)140 units.
C)160
Q213: The firm's most efficient level would be
A)100
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