Which of the following conditions ensures that excess profits cannot persist in a perfectly competitive market over the long run?
A) Large number of firms in the industry.
B) Outputs of the firms are perfect substitutes for one another.
C) Complete information is available to all market participants.
D) Ease of entry into the market.
D
Economics
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The "New Economy", a period marked by major technological change, low inflation, low unemployment, and rapidly growing productivity characterized
A. the 1920s. B. the 1960s. C. the 1990s. D. All of the decades listed.
Economics
When we consider our savings, interest rates ________ and inflation rates ________ the value.
A. have no real effect; decrease B. increase; increase C. increase; decrease D. decrease; increase
Economics