Multiple Choice
It is ________ for a corn producer in a perfectly competitive corn industry to make excess profits because entry into the corn industry is free.
A) expected
B) very easy
C) likely
D) difficult
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q125: Short-run costs that depend on the level
Q126: Refer to the information provided in
Q127: Dana spends $10,000 on remodeling a storefront
Q128: Perfectly competitive firms sell homogeneous products.
Q129: If a firmʹs demand curve is _,
Q131: The profit-maximizing level for all firms, regardless
Q132: Average total cost is minimized at a
Q133: Economists usually assume that _ is a
Q134: Firms have _ over their _ costs
Q135: Which of the following is most likely