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 99 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?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
A Listing of Repeat Units for 10 of the More Common Polymeric Materials A Listing of Repeat Units for 10 of the More Common Polymeric Materials
Units of Radiation Measurement Units of Radiation Measurement
How to convert between imperial and metric units (Part 2) How to convert between imperial and metric units (Part 2)
The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ... The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ...
Expressing amounts of energy in different energy units is necessary to solve many chemistry ... Expressing amounts of energy in different energy units is necessary to solve many chemistry ...
Video: Homologous chromosomes during prophase I - Animation

For a complete list of videos, visit our video library