A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 5 percent. This firm is earning $15 on every $150 invested by its founders. Instructions: Enter your answers as whole numbers. a. What is its percentage rate of return? b. Is the firm earning an economic profit? If so, how large? c. Will this industry see entry or exit? d. What will be the rate of return earned by firms in this industry once the industry reaches long-run equilibrium?
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Business, 22.06.2019 16:50
In terms of the "great wheel of science", statistics are central to the research process (a) only between the hypothesis phase and the observation phase (b) only between the observation phase and the empirical generalization phase (c) only between the theory phase and the hypothesis phase (d) only between the empirical generalization phase and the theory phase
Answers: 1
Business, 22.06.2019 17:40
Because the demand for wheat tends to be inelastic. true or false
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Business, 23.06.2019 03:50
What is inventory turnover? explain the effect of a high inventory turnover during the christmas shopping season.
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Business, 23.06.2019 07:00
Which (if any) of the following scenarios is the result of a natural monopoly? instructions: you may select more than one answer. a. patent holders of genetically modified seeds are permitted to sue farmers who save seeds from one planting season to the next. b. doctors in the united states are prohibited from practicing without a medical license. c. there is one train operator with service from baltimore to philadelphia. d. coal is used as the primary energy in a country with abundant coal deposits.
Answers: 1
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