Question: In the long run, if ( mathrm { P } mathrm { AVC } ) of production, firms will ; if
In the long run, if mathrmPmathrmAVC of production, firms will ; if mathrmPmathrmATC firms will this leads to a longrun equilibrium where firms earn economic profits.
A exit; enter, negative
B exit; enter; zero
C enter; exit; zero
D enter; exit, positive
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
