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Author Question: In a competitive industry buffeted by demand and supply shocks, prices increase and decrease, but ... (Read 54 times)

melina_rosy

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  • Posts: 531
on: Jul 1, 2018
In a competitive industry buffeted by demand and supply shocks, prices increase and decrease, but economic profits tend to revert to zero. Hence, profits are exhibiting
 a. Above-average return
  b. Positive earnings
 c. Mean reversion
 d. None of the above

Question 2

Auctions are valuable for selling items such as
 a. Art
 b. Antiques
 c. Custom jewelry
  d. All of the above


perkiness

  • Sr. Member
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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


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