Perfectly competitive firms are earning economic profits at a market price of $5 and an average total cost of $4. If new firms enter and do not affect the cost for all firms, the market price will until it reaches .
a. Fall; $4
b. Increase; $5
c. Fall; $5
d. Increase; $4

Question

20-06-2024
Business

Answered

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Perfectly competitive firms are earning economic profits at a market price of $5 and an average total cost of $4. If new firms enter and do not affect the cost for all firms, the market price will until it reaches .
a. Fall; $4
b. Increase; $5
c. Fall; $5
d. Increase; $4

Sagot :

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Perfectly competitive firms are earning economic profits at a market price of $5 and an average total cost of $4. If new firms enter and do not affect the cost for all firms, the market price will ________ until it reaches ________.a. Fall; $4b. Increase; $5c. Fall; $5d. Increase; $4

Sagot :

Other Questions

Perfectly competitive firms are earning economic profits at a market price of $5 and an average total cost of $4. If new firms enter and do not affect the cost for all firms, the market price will until it reaches .
a. Fall; $4
b. Increase; $5
c. Fall; $5
d. Increase; $4