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28 Nov 2018
When profit-maximizing firms in competitive markets are earning a negative economic profit:
a. the most inefficient firms will exit the industry.
b. market demand must exceed market supply at the market equilibrium price.
c. new firms will enter the market.
d. market supply must exceed market demand at the market equilibrium price.
When profit-maximizing firms in competitive markets are earning a negative economic profit:
a. the most inefficient firms will exit the industry.
b. market demand must exceed market supply at the market equilibrium price.
c. new firms will enter the market.
d. market supply must exceed market demand at the market equilibrium price.
larryrambo777Lv10
26 Mar 2023
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2 Jun 2021
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