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Author Question: Suppose firms in a perfectly competitive market are incurring an economic loss. Over time A) ... (Read 59 times)

serike

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on: Jun 29, 2018
Suppose firms in a perfectly competitive market are incurring an economic loss. Over time
 
  A) other firms enter the market, so the price rises and the economic loss decreases.
  B) some firms leave the market, so the price rises and the economic loss decreases.
  C) other firms enter the market, so the price falls and the economic loss decreases.
  D) some firms leave the market, so the price falls and the economic loss decreases.

Question 2

In comparison to an employer in a competitive labor market, a monopsony employer hires ________ workers and produces ________ output.
 
  A) fewer; less
  B) fewer; more
  C) more; less
  D) more; more


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peilian

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


serike

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

mcarey591

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Reply 3 on: Yesterday
Wow, this really help

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