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Author Question: If firms in a competitive industry are earning positive economic profits, in the long run we expect (Read 54 times)

shivanipalawai@gmail.com

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on: Oct 12, 2022
If firms in a competitive industry are earning positive economic profits, in the long run we expect
◦ there would be no change in the industry as long as P = MC for the individual firms.
◦ the supply curve for the product will shift to the right as new firms enter the industry, causing industry output to increase and price to fall.
◦ the demand curve for the product will shift to the left, so that the price of the product will fall.
◦ the individual firms will lower their price to discourage new firms from entering the industry.
◦ the government would intervene and force the firms to lower prices.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by shivanipalawai@gmail.com on Oct 12, 2022

sakura282000

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Reply #1 on: Oct 12, 2022
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.
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shivanipalawai@gmail.com

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

mcarey591

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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