When a perfectly competitive firm experiences positive economic profits in the short run
A) the high barriers to entry prevent further competition.
B) existing firms exit the industry.
C) new firms enter the industry.
D) firms have no incentive to exit or enter the industry.
Correct Answer:
Verified
Q360: Q361: Consider an industry that is in long-run Q362: In the long run when a perfectly Q363: A decreasing-cost industry will have Q364: Consider an industry that is in long-run Q366: The long-run industry supply curve in a Q367: The motive that drives firms to enter Q368: Consider an industry that is in long-run Q369: When a perfectly competitive firm experiences zero Q370: An increasing-cost industry will have
A) a perfectly
A) a perfectly
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