Multiple Choice
In a competitive industry buffeted by demand supply shocks,prices increase and decrease,but economic profits tend to revert to zero.Hence,profits are exhibiting
A) Above-average return
B) Positive earnings
C) Mean reversion
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q26: In the above scenario,the quantity of gas
Q26: All these are characteristics of a monopoly
Q27: A monopoly has<br>A)A perfectly elastic demand curve<br>B)A
Q28: As a patent in a the pharmaceutical
Q29: If a firm in a perfectly competitive
Q32: A car manufacturer produces three different versions
Q33: A perfectly competitive firm has<br>A)A perfectly elastic
Q34: Mobil Energy Corp has a monopoly on
Q36: A monopoly firm is a _ and
Q63: A sudden decrease in the market demand