If an industry experiences an increase in the number of firms,then
A) the original firms will produce more.
B) the new firms will produce more than the original firms.
C) the industry supply curve will shift left.
D) the new firms will produce the same amount as the original firms.
E) the industry supply curve will shift right.
Correct Answer:
Verified
Q39: Q40: If the owners of a business are Q41: If accounting profit is positive,then Q42: Accounting profit minus economic profit equals Q43: The signal for new firms to join Q45: Harvey quit his job at the University Q46: If total revenue covers explicit costs but Q47: Economic profit Q48: If all firms in a perfectly competitive Q49: Harvey quit his job at the University
A) economic profit
A) zero.
B)
A) includes only explicit costs.
B) has
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents