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3. When firms in a competitive industry with low barriers to entry are earning positive economic profits A. none of the above B. firms will neither enter nor exit the industry C. new firms will enter the industry and the market price will fall until firms are earning only a normal rate of return. D. firms will exit the industry and market price will rise until firms are earning only a normal rate of return

Name: 3 when firms in a competitive industry with low barriers to entry are earning positive economic profits a none of the above b firms will neither enter nor exit the industry c new firms will 61773
Uploaded: 2022-05-09T12:09:55-08:00
Duration: 3 min 39 s
Channel: Jonathan Tapiwa
Description: 3 when firms in a competitive industry with low barriers to entry are earning positive economic profits a none of the above b firms will neither enter nor exit the industry c new firms will 61773

          3.   When firms in a competitive industry with low barriers to entry are earning positive economic profits            A. none of the above      B. firms will neither enter nor exit the industry      C. new firms will enter the industry and the market price will fall until firms are earning only a normal rate of return.      D. firms will exit the industry and market price will rise until firms are earning only a normal rate of return

Added by Asunci-N H.

Principles of Economics

Gregory Mankiw 8th Edition

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05/09/2022

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3. When firms in a competitive industry with low barriers to entry are earning positive economic profits A. none of the above B. firms will neither enter nor exit the industry C. new firms will enter the industry and the market price will fall until firms are earning only a normal rate of return. D. firms will exit the industry and market price will rise until firms are earning only a normal rate of return