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

Author Question: The main reason(s) firms in a competitive market cannot earn positive profits in the long run ... (Read 40 times)

jc611

  • Hero Member
  • *****
  • Posts: 552
on: Jul 1, 2018
The main reason(s) firms in a competitive market cannot earn positive profits in the long run is(are)
 a. assets can quickly move in and out of the industry when demand fluctuates
 b. an increase in demand leads to entry of firms which absorb the extra demand
 c. a decrease in demand leads to exit of firms from the market such that there is no surplus
  d. all of the above

Question 2

In a sealed-bid first price auction, if you notice that your competition is stronger, you should
 a. Shade your bid more
 b. Shade your bid less
 c. Bid more aggressively
  d. Both B&C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meryzewe

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

d


jc611

  • Member
  • Posts: 552
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

tanna.moeller

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

The U.S. Long-Term Ecological Research (LTER) network. The U.S. Long-Term Ecological Research (LTER) network.
Positive and Negative Symptoms of Schizophrenia Positive and Negative Symptoms of Schizophrenia
Role of PKM-zeta in Long-Lasting Long-Term Potentiation Role of PKM-zeta in Long-Lasting Long-Term Potentiation
Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
Long Term Control Medications Long Term Control Medications
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Video: Skin Cancer

For a complete list of videos, visit our video library