Because of free entry and exit, firms in a perfectly competitive market cannot earn a profit in the short run.
Answer the following statement true (T) or false (F)
False
Economics
You might also like to view...
If the nominal interest rate equals 10 percent and the inflation rate equals 6 percent, what does the real interest rate equal?
What will be an ideal response?
Economics
If the above figure illustrated a perfectly competitive industry, the equilibrium market output would be equal to
A) 7. B) 11. C) 13. D) 22.
Economics
Supply chain management is a recent development in organizational structure
Indicate whether the statement is true or false
Economics
Suppose that income increases and the quantity demanded of guitars stays the same. This means that the income elasticity of guitars is unit elastic.
Answer the following statement true (T) or false (F)
Economics