When a firm earns economic profit
A) accounting profits are zero.
B) market share has be capitalized.
C) other firms enter the market.
D) total revenue has been maximized.
C
Economics
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When one party suffers negative external effects due to the actions of another party, a lawsuit may not lead to the efficient outcome if:
A) property rights are not clearly assigned. B) the parties have incomplete information. C) the legal costs of the lawsuit are too high. D) All of the above
Economics
Acquiring a firm that sells a substitute good will
a. Make the demand curve more inelastic b. Make the demand curve more elastic c. Make MR>MC d. Will have no effect on the demand curve
Economics