Discover the best answers at Westonci.ca, where experts share their insights and knowledge with you. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.
Sagot :
When the entry of firms into the industry changes this firm's demand schedule from columns 1 and 3 to columns 2 and 3. Maximum economic profit will decline to zero.
How to depict the information?
It should be noted that the marginal revenue is the change in total revenue be marginal cost is the change in total cost.
Therefore, MR = MC will be profit maximization.
It will produce 8 units at q price of 8, hence the economic profit will decline to zero.
Learn more about demand on:
brainly.com/question/1245771
#SPJ1
Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.
