Which of the FF. shows the connection between the short run and the long run equilibrium? A. positive economic profits in the short run attracts other firms to enter the industry B. negative economic profits in the short run forces the losing firms to exit from the industry C. the entry and exit will stop once the economic profits become zero, thus, attaining a long run equiilibrium D. all are correct E. none is correct
Which of the FF. shows the connection between the short run and the long run equilibrium? A. positive economic profits in the short run attracts other firms to enter the industry B. negative economic profits in the short run forces the losing firms to exit from the industry C. the entry and exit will stop once the economic profits become zero, thus, attaining a long run equiilibrium D. all are correct E. none is correct
Micro Economics For Today
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ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 12SQP
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Which of the FF. shows the connection between the short run and the long run equilibrium?
A. positive economic profits in the short run attracts other firms to enter the industry
B. negative economic profits in the short run forces the losing firms to exit from the industry
C. the entry and exit will stop once the economic profits become zero, thus, attaining a long run equiilibrium
D. all are correct
E. none is correct
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