--%>
Assignment Help - homework help

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 : Vigorously competitive market

    Economic rents which can be capitalized are least possible to arise by: (1) production cost advantages. (2) proprietary knowledge. (3) being first to market a differentiable new product or to innovate a new production technology. (4) a vigorously comp

    		•
  • Q : Problem regarding Hicks Model of

    The time period of union strikes and the equilibrium wage rate at conclusion of the strike are focus at: (i) Dept. of Labor’s Collective Bargaining Arbitration Division. (ii) Collective bargaining model made by Sir John Hicks. (iii) Bilateral monopoly model.(iv)

    		•
  • Q : Shifting of taxes on higher prices When

    When a tax on goat cheese is totally paid by consumers through higher prices, in that case the tax has been: (1) alleviated. (2) actualized. (3) backward shifted. (4) forward shifted. (5) randomized. Hello guys I w

    		•
  • Q : Law of diminishing returns for a good

    The point is inevitably reached where an individual derives less extra enjoyment from the extra units of any good. This is mainly well-suited with: (i) Supply curves that slope-up and to right. (ii) Concave (or bowed out) production possibilities frontiers. (iii) The

    		•
  • Q : Most efficient technology at the lowest

    When all goods are produced in highly competitive markets as well as there are no externalities, goods tend to be manufactured: (i) relatively inefficiently. (ii) along with the most efficient technology at the lowest price. (iii) along with maximum p

    		•
  • Q : Enter or exit the market in

    A mix of heterogeneous goods and many potential buyers and sellers which are free to enter or exit the market within the long run are among essential conditions for an industry to be: (1) a monopoly. (2) purely competitive. (3) an oli

    		•
  • Q : Price elasticity of supply while the

    If John Whittler can sell totem poles for $1,800 at all, he markets 60 yearly, but while the price falls to $600 apiece; in that case he is willing to sell only 24 yearly. His price elasticity of supply is: (w) 0.43. (x) 0.86. (y) 1.62. (z) 2.48.

    		•
  • Q : Marginal Benefits The marginal

    The marginal advantage/profit to you of a usual activity in which you engage tends to: (i) Raise as long as you enjoy the activity. (ii) Eventually reduce as you do more of activity. (iii) Stabilize when the market price of doing the activity stay constant. (iv) Impro

    		•
  • Q : Sum of Monopolistic Exploitation Sum of

    Sum of the monopolistic exploitation across all workers tends to rise however a firm as well functions at a more socially and economically proficient level of output and employment whenever the firm is capable to engage in: (1) Blacklisting in its dea

    		•
  • Q : Categorize and quantify poverty Most

    Most historical studies intended to categorize and quantify poverty within the United States: (w) consider both assets as well as money income. (x) conclude which almost one-half of all families are below the poverty level. (y) suggest that from the 1

    		•