In a competitive market with free entry and exit from the market a permanent rise in demand will lead to Select one or more: a. excess profits being made in the short run (before new firms can enter) b. entry by new firms c. a permanent rise in prices d. normal profits being made in the long- run Select one or more: a. excess profits being made in the short run (before new firms can enter) b. entry by new firms C. a permanent rise in prices d. normal profits being made in the long-run

In a competitive market with free entry and exit from the market a permanent rise in demand will lead to Select one or more: a. excess profits being made in the short run (before new firms can enter) b. entry by new firms c. a permanent rise in prices d. normal profits being made in the long- run Select one or more: a. excess profits being made in the short run (before new firms can enter) b. entry by new firms C. a permanent rise in prices d. normal profits being made in the long-run

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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