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Author Question: Free entry implies that (Read 40 times)

Shelles

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on: Apr 19, 2019

Question 1

Assume the wool industry is perfectly competitive. The market demand curve for wool is ________ and each individual wool producer's demand curve is ________.


◦ downward sloping; horizontal
◦ horizontal; downward sloping
◦ horizontal; horizontal
◦ downward sloping; downward sloping

Question 2

Free entry implies that


◦ a perfectly competitive firm can never earn a profit.
◦ if firms in an industry are making excessively high profits, new firms are likely to enter the industry.
◦ the government regulates the number of firms that are allowed in an industry.
◦ firms will always earn a profit, as new firms can enter the industry at any time they like.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Shelles on Apr 19, 2019

janieazgirl

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Shelles

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Reply #2 on: Apr 19, 2019
Excellent


janieazgirl

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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