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When the typical seller in a market has economic profits, then:

When the typical seller in a market has economic profits, then:

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
Section: Chapter Questions
Problem 1CQ
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When the typical seller in a market has economic profits, then: new sellers will enter the market. the number of sellers will remain steady. some sellers will exit the market. the market will disappear.
Transcribed Image Text:When the typical seller in a market has economic profits, then: new sellers will enter the market. the number of sellers will remain steady. some sellers will exit the market. the market will disappear.
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