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Author Question: According to the table above, ________ percent of total income is redistributed to the lowest income ... (Read 162 times)

tiara099

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on: Jun 29, 2018
According to the table above, ________ percent of total income is redistributed to the lowest income group.
 
  A) 4.7
  B) 2.3
  C) 1.5
  D) 3.8

Question 2

When do new firms enter a perfectly competitive market? When does entry stop?
 
  What will be an ideal response?


kescobar@64

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

New firms enter a perfectly competitive market as long as the existing firms are making an economic profit. Essentially the new firms enter in order to make an economic profit themselves. Entry stops when it is no longer possible to make an economic profit, which occurs when the existing firms are earning zero economic profit, that is, the owners are earning a normal profit.


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