Will firms in a price-taker market be able to earn profits
Will firms in a price-taker market be able to earn profits in the long run? Why or why not? What determines profitability? Discuss.
Now Priced at $10 (50% Discount)
Recommended (96%)
Rated (4.8/5)
Farmers are often heard to complain about the high costs of machinery, labor, and fertilizer, suggesting that these costs drive down their profits
In a price-taker market, if a business operator produces efficiently-that is, if the cost of producing the good is minimized-the operator will be able to make at least a normal profit
When the firms in the industry are just able to cover their cost of production, economic profit is zero. Therefore, if demand falls, causing prices to go down even a little bit, all of the firms in the industry will be driven out of business
Why does the short-run market supply curve for a product slope upward to the right? Why does the long-run market supply curve generally slope upward to the right?
What determines the variety of styles, designs, and sizes of different products? Why do you think there are only a few different varieties of toothpicks but lots of different types of napkins on the market?
Barriers to entry are crucial to the existence of long-run profits, but they cannot guarantee the existence of profits
The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?
Why are real wages in the United States higher than in other countries? Is the labor force itself responsible for the higher wages of American workers? Explain.
1935309
Questions Asked
3,689
Active Tutors
1425547
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
A nurse is providing teaching to a client who is being treated in the outpatient clinic. Which of the following five foods should the nurse recommend
Which of the following identified cancer, cardiovascular disease and stroke, chemical dependency, diabetes, homicide and accidents, and infant mortality
Ella Roberts is a 70 yo woman with a significant history of GERD. She presents to the clinic today for a routine follow-up visit.
What physiological changes occur are responsible the increase in carbohydrate oxidation when exercising in hot conditions?
In order to create better access to health care or remove an environmental risk that is affecting a minority community
Success in the healthcare industry depends on understanding the healthcare environment. The complexity of the healthcare system, including its policies
How can a nurse's clinical decision-making skills assist in improving patient outcomes while lowering the cost of services for the organization