Free entry and exit means that
A) banks charge no interest on a loan to start a firm.
B) there are no artificial barriers to entering and exiting an industry.
C) no investment is necessary in order to enter an industry.
D) it costs nothing to start a firm.
E) a firm is free to enter and exit a nation without having to pay high tax levies.
Correct Answer:
Verified
Q19: In a competitive industry, firm demand is
A)downward-sloping.
B)vertical.
C)nonexistent.
D)horizontal.
E)unchanging.
Q20: The definition of a market is broader
Q21: Free entry and exit refers to industries
Q22: Firm demand in a competitive industry, like
Q23: If the typical firm in an industry
Q25: If higher taxes raise the unit cost
Q26: If, at the equilibrium level of output,
Q27: If zero economic profit is being earned
Q28: If an innovation lowers the marginal cost
Q29: Which of the following does not need
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