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

Author Question: The main reason(s) firms in a competitive market cannot earn positive profits in the long run ... (Read 71 times)

jc611

  • Hero Member
  • *****
  • Posts: 552
on: Jul 1, 2018
The main reason(s) firms in a competitive market cannot earn positive profits in the long run is(are)
 a. assets can quickly move in and out of the industry when demand fluctuates
 b. an increase in demand leads to entry of firms which absorb the extra demand
 c. a decrease in demand leads to exit of firms from the market such that there is no surplus
  d. all of the above

Question 2

In a sealed-bid first price auction, if you notice that your competition is stronger, you should
 a. Shade your bid more
 b. Shade your bid less
 c. Bid more aggressively
  d. Both B&C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meryzewe

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

d


jc611

  • Member
  • Posts: 552
Reply 2 on: Jul 1, 2018
Excellent

Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation. Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation.
In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb
Apply the body wrap substance to the back with long, smooth strokes, covering the area thoroughly. Apply the body wrap substance to the back with long, smooth strokes, covering the area thoroughly.
Clear the lower leg with long strokes. Start proximal to the ankle, and stroke to the knee and ... Clear the lower leg with long strokes. Start proximal to the ankle, and stroke to the knee and ...
I need help fill up the chart attached phtoto long question I need help fill up the chart attached phtoto long question
Video: Ear Animation

For a complete list of videos, visit our video library