The characteristic of entry and exit ensures that firms
The characteristic of entry and exit ensures that firms
Earn excess profit
Earn normal profit
Break-even
Expand their operations
Correct answer is D
Free entry and exit are economic terms used to describe the condition of a free market economic
Free entry is a condition in which sellers can freely enter the market with its product to make sales. Free exit occurs when a firm can leave the market without limit when economic losses are being incurred. Firms tend to expand in their operations as they grow, the concept of free entry and exit avails them the opportunity of entering and leaving a market at will.
When a worker changes from one type of job to another, it is called ...
The greatest foreign exchange earner for Nigeria before the advent of petroleum was ...
Given the demand function Qd = 20 - 1/ 2P. What is Qd when P is $12? ...
What is the ratio of expenditure on health to Agriculture if the yearly budget is 7200? ...
The direct exchange of one goods for another without the use of money is known as ...
Holding money to take care of contingencies is ...
Product differentiation in monopolistic competition implies that ...
Find the median of the following set of data 35,10,14,38,15,18,22,30 and 28 ...