The firms in a perfectly competitive are making an economic profit when new firms enter. The entry shifts the short-run market supply curve ________, the market price ________, and each firm's economic profit ________
A) leftward; rises; decreases
B) rightward; rises; increases
C) rightward; falls; decreases
D) leftward; falls; decreases
C
Economics
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Explain how the United Nations uses the Human Development Index (HDI) to better measure the standard of living around the globe
What will be an ideal response?
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A change in the required reserve ratio changes: a. the amount of actual reserves in the banking system
b. the amount of excess reserves in the banking system. c. the value of government securities held by the Fed. d. the level of insurance for banks who are members of the FDIC.
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