Top Posters
Since Sunday
y
2
s
2
a
1
w
1
w
1
i
1
m
1
s
1
c
1
k
1
1
m
1
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Retnec Retnec
wrote...
Go to Answer
Posts: 1082
Rep: 5 0
7 years ago
If the representative firm in a purely competitive industry earns a profit in the short run, in the long run
A) industry demand will tend to decline, reducing the market price and eliminating all economic profit.
B) additional firms will tend to enter the industry, forcing up the market price.
C) additional firms will tend to enter the industry, reducing the market price.
D) firms will tend to leave the industry, increasing the market price.
E) it will continue to earn an economic profit.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
Read 103 times
2 Replies
Replies
Answer verified by a subject expert
VilaVila
wrote...
#1
Top Poster
Posts: 684
Rep: 8 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Retnec Author
wrote...
#2
7 years ago
You have the correct answer! Smiling Face with Halo
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1181 People Browsing
 194 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 312
  
 334
  
 154
Your Opinion
How often do you eat-out per week?
Votes: 81
Previous poll results: Should Ph.D.'s be addressed as doctors?