If a firm in a perfectly competitive industry is experiencing higher than normal returns, in the long-run
a. Some firms will leave the industry and price will rise
b. Some firms will enter the industry and price will rise
c. Some firms will leave the industry and price will fall
d. Some firms will enter the industry and price will fall
d
Economics
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To help pay for the cost of sport related injuries, the government imposes a tax on sellers of all sports equipment. Using the above figure, the area that equals the lost consumer surplus from this tax on sports equipment is
A) bcd. B) P1P2cd. C) P2P3ec. D) ced.
Economics
What are some of the forms that central planning has taken in developing nations today?
What will be an ideal response?
Economics