Suppose an economy has only two sectors: goods and services. each year, goods sells 75% of its outputs to services and keeps the rest, while services sells 63% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.

An instance where sellers should work to keep relationships with customers is when they instance where selllars should work to keep relationships with customers is when they feel that the product

Which of these is not a result of regular exercise

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.