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Author Question: Firms will continue to enter a competitive industry until: a. the supply curve is vertical. b. the ... (Read 13 times)

Alainaaa8

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on: Jun 30, 2018
Firms will continue to enter a competitive industry until:
 a. the supply curve is vertical.
 b. the market price falls below average variable cost.
  c. any economic profits have been competed away.
  d. all resources are fully employed.

Question 2

Per capita income is calculated as:
 a. national income divided by number of households.
  b. national income divided by number of people.
  c. number of households divided by national income.
  d. number of people divided by national income.
  e. number of people divided by domestic income.


brittanywood

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


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