If all firms in a perfectly competitive industry are experiencing economic losses, then:
A. some firms will exit the industry, until accounting profits equal zero.
B. some firms will exit the industry, until economic profits equal zero.
C. some firms will exit the industry, until economic profits are positive.
D. all existing firms will stay in the industry, hoping for better times.
Answer: B
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a. user value c. existence value b. stewardship d. vicarious consumption
Net unilateral transfers in the United States in 2009 averaged about ______ per US resident
a. $1250 b. $850 c. $520 d. $430 e. $210
The official fiscal year budget deficits disappeared from 1998 to 2001.
Answer the following statement true (T) or false (F)
Marginal revenue at the profit-maximizing/loss-minimizing amount is
A. $4.
B. $12.
C. $14.
D. $20.