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Author Question: When firms earn above normal rates of return (Read 112 times)

altibaby

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Question 1

When firms earn below normal rates of return


◦ they raise their prices to increase their profits.
◦ they tend to stay in the industry in anticipation of other firms leaving the industry.
◦ they tend to leave the industry and seek profits elsewhere.
◦ they are still breaking even economically.

Question 2

When firms earn above normal rates of return


◦ they are able to raise their prices to increase their profits.
◦ they are earning positive profits and new firms are likely to enter the industry.
◦ they tend to leave the industry and seek profits elsewhere.
◦ they are still breaking even economically.


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Marked as best answer by altibaby on Apr 19, 2019

alvinum

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altibaby

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)


cici

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Reply 3 on: Yesterday
Excellent

 

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