Entry of new firms causes
A) accounting profits to go to zero.
B) market share to grown.
C) economic profits to go to zero.
D) total revenue to be maximized.
C
Economics
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The above figure shows the domestic market for tomatoes. Suppose this market is isolated from global competition and there is a support price set at $16. In this figure, what area equals the producer surplus?
A) area A + area B + area C B) area A + area F C) area B + area C + area D + area F D) area C + area D + area E + area G E) area F
Economics
What two things does the amount of property income a household earns depend upon?
What will be an ideal response?
Economics