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 132 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?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Diverticulosis. Figure illustrates external and internal appearance of diverticula. Diverticulosis. Figure illustrates external and internal appearance of diverticula.
Move joints in hands. Apply scissoring to metacarpals and figure-8s to fingers. Move joints in hands. Apply scissoring to metacarpals and figure-8s to fingers.
Excel hardware is introducing a new product on a new product line of capacity 800 units per ... Excel hardware is introducing a new product on a new product line of capacity 800 units per ...
If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance? If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance?
A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ... A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ...
One year ago, Christos bought 1000 units of the Dominion Aggressive Growth Fund at $20.35 per ... One year ago, Christos bought 1000 units of the Dominion Aggressive Growth Fund at $20.35 per ...
Video: Introduction to Insulin

For a complete list of videos, visit our video library