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If there are barriers to entry into a market, it is possible for the existing firm to earn positive economic profit. All of the following explain this concept except; 1. it is possible for a firm in this situation to charge any price it wants and thus preclude anyone else from entering 2. competition does not erode profits the way it would under perfect competition 3. new firms cannot take advantage of the profits 4. resource immobility.
One of the major reasons that foreign expatriates have difficulty doing business in the United States is that they do not understand American slang. A business executive recently gave the authors the following three examples of statements that had no..
what is the expected economic life for this water pump and what is the minimum annual equivalent cost.
if possible, your most preferred to least preferred type of shock: positive demand shock, negative demand shock, positive supply shock, negative supply shock. Explain how would you rank them and why.
A county is considering using a piece of park land for one of two alternative recreation projects. Project S would require construction costs of $2 million (year 0) and generate net benefits of $1 million per year for 10 years.
He drove this car until 2003 when he bought a Honda Civic for $18,000. If the price index in 1969 was 36.7 and the price index in 2006 was 180, Illustrate what is the price of the Dodge Dart in 2006 dollars.
Consider an income guarantee program with an income guarantee of $6,000 and a benefit reduction rate of 50%.
Over the last decade, several firms have entered this industry and, as a consequence, Forey is earning a return on investment that roughly equals the interest rate.which market structure best characterizes the industry
Illustrate what is your conclusion about the claim made by the diet program
q. specify whether you agree or disagree with the subsequent statements. in brief explain your answer.a. increasing
q.in the early 1980s interest rates on long-term debt were at remarkable levels - above 15percent higher. within a
Explain how will the market restrain economic freedom. Explain how will society produce goods and services at lowest cost.
Agree or disagree and explain your answer. "The typical firm in a monopolistic competitive market earns above normal profits because it sells a differentiated product and only produces up to the point where marginal revenue equals marginal cost."
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