--%>

Constant cost industry with no barriers to entry or exit

When consumers eventually cannot distinguish one roasted chicken dinner from other, while roasted chicken dinners are produced into a constant cost industry, and when no barriers to entry or exit exist, so this firm’s long-run economic profit will be about: (1) $29,000 per week. (2) $31,500 per week. (3) $34,000 per week. (4) $36,500 per week. (5) zero per period.

1006_Market Power and Short Run Economic Profit.png

Please choose the right answer from above...I want your suggestion for the same.

   Related Questions in Microeconomics

  • Q : Present Value and Rates of Return When

    When the rate of return you calculate on an asset exceeds the interest rate: (1) competition for profit must make its price fall rapidly. (2) the price must fall rapidly. (3) the market is in long term equilibrium. (4) you should igno

  • Q : Product differentiation in market If

    If new soap operas that, although same to the previous ones, all are advertised as original and new, the TV networks are engaging within: (i) bait and switch. (ii) product differentiation. (iii) monopolistic competition. (iv) dynamic game theory. (v)

  • Q : What is Budget line Budget line : This

    Budget line: This refers to all combinations of goods that a consumer can purchase with his whole income and price of two goods.

  • Q : Equilibrium for a price maker firm I

    I have a problem in economics on Equilibrium for a price maker firm. Please help me in the following question. In equilibrium, for a price maker firm, the charge of monopolistic exploitation is any difference among: (1) P and MR. (2) P and MC. (3) VMP

  • Q : Maximizing profit regardless magnitude

    Assume that Monsieur Cournot cannot price discriminate although is intent on maximizing profit. Apart from of the magnitude of variable costs, Cournot would certainly not try to sell: (w) the output corresponding to p

  • Q : Market supplies of labor withinin long

    During the long run, the labor supply curve facing a main industry: (w) will always be positively associated to the wage rate. (x) will slope upward only when individual labor supply curves slope upward. (y) can be backward bending at very high wage r

  • Q : What is Average Fixed Cost or AFC What

    What is Average Fixed Cost. Also provide its formula?

  • Q : Predatory behaviour in increase price

    Predatory behavior would not comprise: (w) lowering prices. (x) expanding output. (y) rapid technological innovation. (z) raising prices. Can anybody suggest me the proper explanation for given problem regarding

  • Q : Technological advancement influencing

    Describe how technological advancement influence the supply of specific product.