Which type of firm is most likely to have zero economic profit in the long run: monopoly, oligopoly, monopolist competition or perfect competition? Explain. In which market structures is the firm able to earn long-run economic profits? A. Perfect competiti...
A firm operating under conditions of perfect competition will generate zero economic profit in the long run. Firms may generate economic profits in the short run, but due to the lack of entry barriers, new competitors will enter the market and prices will adjust downward until economic profits ...
One of the defining features of perfect competition is that in the long run, no firm earns a positive economic profit. This is a result of the nature of perfect competition and the ease of doing business in this type of competition.
In the long-run, a firm operating under perfect competition will: A. generate zero economic profit. B. produce a quantity where marginal revenue is less than marginal cost. C. face a vertical demand curve.相关知识点: 试题来源: 解析 A 略 ...
thetotalmarketoutputincreases.AnIncreaseinDemand •Intheshortrun,thepricedoesmoreoftheadjusting.•Inthelongrun,moreoftheadjustmentisdonebyquantity.MarketResponsetoanIncreaseinDemand Price $97 0 McGraw-Hill/Irwin Market Price FirmMC S0SR B S1SR $9 ACB C Profit A ...
A. generate zero economic profit.B. produce a quantity where marginal revenue is less than marginal cost.C. face a vertical demand curve. 正确答案:A 分享到: 答案解析: A firm operating under conditions of perfect competition will generate zero economic profit in the long run. Firms may ...
题目 19. In the long-run, a firm operating under perfect competition will: A:A:produce a quantity where marginal revenue is less than marginal cost B:B:generate zero economic profit C:C:face a vertical demand curve 相关知识点: 试题来源: 解析 B 反馈 收藏 ...
In the long run, a perfectly competitive firm will earn A. Small economic profits. B. Large accounting profits. C. Zero economic profits. 点击查看答案&解析手机看题 你可能感兴趣的试题 单项选择题 What is the relationship between price and marginal revenue for a price searcher A. Marginal re...
RunCompetitive Equilibrium • Normalprofitistheamounttheownerswouldhave receivedintheirnextbestalternative • Zeroprofit does not mean that the entrepreneur does not get anything for his efforts • Economic profits are profits above normal profits 14-13 Long-Run Competitive Equilibrium Graph P Q P...
Explanations have often relied on static models of imperfect competition. This paper develops a dynamic model of perfect competition to demonstrate that long-run average profit rates differ even across competitive industries when the effects of sunk costs on entry and exit are considered. The ...