Freedom of entry and exit, Typical firms in an industry can’t expect to produce economic

Freedom of entry and exit

Typical firms in an industry can’t expect to produce economic profit in the long run when the industry has: (1) decreasing costs of production as the number of firms in the industry changes. (2) market demand exceeding the minimum average variable cost of production. (3) no barriers that preclude entry and exit in the long run. (4) increasing returns to scale of production across all feasible levels of output. (5) high marginal costs relative to its fixed costs.

Hello guys I want your advice. Please recommend some views for above Economics problems.

View Complete Question

Related Questions in Microeconomics

Q : Price cut of Substitutes products When

When a price cut for licorice gummy bears decrease the demand for tuna fish ice-cream, then: (1) Tuna fish ice-cream and licorice gummy bears are the complementary goods. (2) Price hikes for tuna fish ice-cream will decrease the demand for the licorice gummy bears. (3

Q : Critics of contribution standard of

Critics of contribution standard of the income distribution often: (w) cite inequality as evidence of inequity. (x) assert which private individuals must not be capable to accumulate any assets. (y) believe charitable giving should be

Q : Wages for workers and economic rent The

The monthly check which you pay to your landlord shows: (w) interest for use of the landlord’s capital, and wages for maintenance workers, economic rent depends on the location and amount of land as well as perhaps, several economic profit (when there is any mon

Q : Problem regarding law of Diminishing

Can someone help me in finding out the right answer from the given options. According to the law of diminishing marginal utility, the longer that Chris and Lee kiss: (i) The less invested each will be in enduring this relationship. (ii) The closer they are to arriving

Q : Deterrent Give me answer of this

Give me answer of this question. Which one of the following is presently a major deterrent to bank panics in the United States? A) the legal reserve requirement B) the fractional reserve system C) the gold standard D) deposit insurance

Q : Problem on least monopsony power The

The Firms which have at least some monopsony power will never: (i) Practice wage discrimination. (ii) Find out wage rates in portion by the number of workers it hires. (iii) Pay higher wages than would a firm hiring from the competitive labor market. (iv) Raise the em

Discover Q & A

Leading Solution Library

Avail More Than 1447362 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1942591
Asked

3,689

Active Tutors

1447362

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment