Which of the following is a condition of long-run competitive equilibrium?
A) There are incentives for firms to enter the industry.
B) There are incentives for firms to exit the industry.
C) There is no incentive for firms to enter or exit the industry.
D) There are incentives for firms to produce more output.
E) There are incentives for firms to change plant size.
Correct Answer:
Verified
Q2: Firms may enter or exit a competitive
Q3: An industry is
A)a group of firms that
Q4: In the long run, if price is
Q5: One reason old industries die off is
Q6: List three reasons for the rise and
Q7: Consumers are part of an industry.
Q8: The entry and exit of firms occurs
Q9: A group of firms, each of which
Q10: Which of the following statements is false?
A)The
Q11: An industry tends to expand as market
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