This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Free exit implies that (Read 33 times)

jwb375

  • Hero Member
  • *****
  • Posts: 540
on: Apr 19, 2019

Question 1

If the corn industry is perfectly competitive, ________ for corn is downward sloping and ________ is horizontal.


◦ the market demand curve; an individual corn producer's demand curve
◦ an individual corn producer's demand curve; the marginal revenue curve
◦ the marginal cost curve; the marginal revenue curve
◦ marginal revenue curve; average total cost curve

Question 2

Free exit implies that


◦ a perfectly competitive firm can never earn a profit.
◦ if an industry's existing firms make excessively high losses, firms are likely to exit the industry.
◦ the government regulates the number of firms it allows in an industry.
◦ firms will always earn below normal profit, as firms can exit the industry at any time they like.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jwb375 on Apr 19, 2019

AaaA

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly


jwb375

  • Member
  • Posts: 540
Reply 2 on: Apr 19, 2019
Wow, this really help

lkanara2

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Saguaro cacti in freeze-free zones. Saguaro cacti in freeze-free zones.
This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern
Free Blacks in 1850 Free Blacks in 1850
Cross Section of Skin and Free Nerve Endings Cross Section of Skin and Free Nerve Endings
Free Energy Rules: The Second Law in Open Systems Free Energy Rules: The Second Law in Open Systems
First-order sensory neuron with free nerve endings First-order sensory neuron with free nerve endings
Video: Hormones and the menstrual cycle Animation

For a complete list of videos, visit our video library