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

Author Question: Refer to Figure 3-5. At a price of 5, the quantity sold A) is 2 units. B) is 4 units. C) is 6 ... (Read 96 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jun 29, 2018
Refer to Figure 3-5. At a price of 5, the quantity sold
 
  A) is 2 units. B) is 4 units.
  C) is 6 units. D) cannot be determined.

Question 2

What triggers exit in a competitive market? Describe the process that ends further exit.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nixon_s

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

When firms in a competitive market are incurring an economic loss, some of the firms will exit the market. As these firms exit, the supply decreases and the price rises. The rise in the price eventually eliminates the economic loss, at which time exit stops.


dbose

  • Hero Member
  • *****
  • Posts: 597
Reply #2 on: Jun 29, 2018
Thank you :)


nixon_s

  • Sr. Member
  • ****
  • Posts: 359
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

The Land Ordinance of 1785 called for surveying and dividing the Western Territories into square mil The Land Ordinance of 1785 called for surveying and dividing the Western Territories into square mil
Based on this figure, what pathway is used during urinary catheterization, in which a tube is ... Based on this figure, what pathway is used during urinary catheterization, in which a tube is ...
C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ... C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ...
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Video: Phases of the ovarian cycle

For a complete list of videos, visit our video library