« previous next »

Author Question: Monopolists can make an economic profit in the long-run because of barriers to entry. Indicate ... (Read 66 times)

TVarnum

  • Hero Member
  • *****
  • Posts: 548
on: Jun 29, 2018
Monopolists can make an economic profit in the long-run because of barriers to entry.
 
  Indicate whether the statement is true or false

Question 2

Comment on the following statement: When firms are earning positive profits, the industry supply curve will shift to the right.
 
  What will be an ideal response?


parker125

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

The statement is true. When firms in perfectly competitive industries are earning positive profit, there is an incentive for firms to expand their scale of operation and for new firms to enter the industry. Thus, the industry supply will rise.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Major Categories of Long-Term Memory Major Categories of Long-Term Memory
Ayurvedic massage. Long sweeping stroke from foot around shoulder and down the arm, recipient prone. Ayurvedic massage. Long sweeping stroke from foot around shoulder and down the arm, recipient prone.
The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
economic question economic question
economic question (having trouble) economic question (having trouble)
Video: Biological organic compounds

For a complete list of videos, visit our video library