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

Author Question: Free exit implies that (Read 37 times)

jwb375

  • Hero Member
  • *****
  • Posts: 540
on: Apr 19, 2019

Question 1

If the corn industry is perfectly competitive, ________ for corn is downward sloping and ________ is horizontal.


◦ the market demand curve; an individual corn producer's demand curve
◦ an individual corn producer's demand curve; the marginal revenue curve
◦ the marginal cost curve; the marginal revenue curve
◦ marginal revenue curve; average total cost curve

Question 2

Free exit implies that


◦ a perfectly competitive firm can never earn a profit.
◦ if an industry's existing firms make excessively high losses, firms are likely to exit the industry.
◦ the government regulates the number of firms it allows in an industry.
◦ firms will always earn below normal profit, as firms can exit the industry at any time they like.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jwb375 on Apr 19, 2019

AaaA

  • Sr. Member
  • ****
  • Posts: 339
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.
Answer Preview
Only 49% of students answer this correctly


jwb375

  • Member
  • Posts: 540
Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Saguaro cacti in freeze-free zones. Saguaro cacti in freeze-free zones.
This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern
L. Frank Baum, author of The Wonderful Wizard of Oz (1900) and a fan of William Jennings Bryan, perh L. Frank Baum, author of The Wonderful Wizard of Oz (1900) and a fan of William Jennings Bryan, perh
Many exhaust manifolds are constructed of pressed steel and are free flowing to improve engine ... Many exhaust manifolds are constructed of pressed steel and are free flowing to improve engine ...
Gibs free energy for hydrolysis of some phosphate compounds Gibs free energy for hydrolysis of some phosphate compounds
The Cranial Nerves as They Exit the Base of the Brain The Cranial Nerves as They Exit the Base of the Brain
Video: Embryonic development - Week 4

For a complete list of videos, visit our video library