You could conclude that
A. new firms will enter the industry.
B. existing firms will leave the industry.
C. the industry is in the long run.
C. the industry is in the long run.
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In the 1990s, video recordings were made primarily on tapes. However, in the 2000s DVDs became increasingly popular, leading to a sharp decline in video tapes
As a result, many people who manufactured tapes lost their jobs and didn't have the skills necessary to work making DVDs. This occurrence is best consider an example of A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) underemployment.
Refer to the above figure. The profit maximizing quantity for a monopolistic competitor is
A) Q1. B) Q2. C) Q3. D) Q4.
According to the figure, The Rock Shop:
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.
A. should enter the market, regardless of what MiiTunes chooses to do.
B. should not enter the market, regardless of what MiiTunes chooses to do.
C. does not have a dominant strategy.
D. has more than one dominant strategy.
Total cost is
A. TFC + TVC. B. AFC + AVC. C. TFC -TVC. D. TFC/TVC.