Answer to Question 1
In the long run, new firms enter a perfectly competitive market if they can make an economic profit. The increased supply causes the price to fall. As long as an economic profit exists, new firms continue to enter, and the price continues to fall until eventually the economic profit equals zero. In the long run, firms leave a perfectly competitive market if they are incurring an economic loss. By exiting, the price rises and the economic loss of the surviving firms shrinks. Eventually enough firms exit so that the price rises to the point that the survivors no longer incur an economic loss, earning instead zero economic profit.
Answer to Question 2
C
Successful agriculturalists must have a basic understanding of landscape structure and process. Thes
Endochondral ossification of long bone.
Uncover the back down to the waist. Stand at the head to apply lubricant to the back using long ...
Incineration Process
Flexible exchange rates are supposed to prevent long-term trade deficits.
economic question