When are firms likely to enter an industry OA Fims will exit an industry when price is greater than the minimum point on the average total cost curve, and firms will enter an industry when price is less than the minimum point on the average to curve OB Accounting profits attract firms to enter an industry, and accounting losses cause firms to exit an industry OC. Fims will exit an industry when price is less than the minimum point on the average variable cost curve, and firms will enter an industry when price is greater than the menum point on the average rat OD. Fims will enter an industry when price equals marginal cost, but firms will exit an industry when price does not equal marginal cost OE Economic profits attract firms to enter an industry, and economic losses cause firms to exit an industry DE SUPR
When are firms likely to enter an industry OA Fims will exit an industry when price is greater than the minimum point on the average total cost curve, and firms will enter an industry when price is less than the minimum point on the average to curve OB Accounting profits attract firms to enter an industry, and accounting losses cause firms to exit an industry OC. Fims will exit an industry when price is less than the minimum point on the average variable cost curve, and firms will enter an industry when price is greater than the menum point on the average rat OD. Fims will enter an industry when price equals marginal cost, but firms will exit an industry when price does not equal marginal cost OE Economic profits attract firms to enter an industry, and economic losses cause firms to exit an industry DE SUPR
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 41P: A computer company produces affordable, easy-to-use home computer systems and has fixed costs of...
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