Would a firm earning zero economic profit continue to produce, even in the long run?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
A firm earning zero economic profit would ...View the full answer
Answered By
Leah Muchiri
I am graduate in Bachelor of Actuarial Science and a certified accountant. I am also a prolific writer with six years experience in academic writing. My working principle are being timely and delivering 100% plagiarized free work. I usually present a precised solution to every work am assigned to do. Most of my student earn A++ GRADE using my precised and correct solutions.
4.90+
52+ Reviews
125+ Question Solved
Related Book For
Question Posted:
Students also viewed these Micro Economics questions
-
True or False: 1. The perfectly competitive model does not assume any knowledge on the part of individual buyers and sellers about market demand and supplythey only have to know the price of the good...
-
Because industry X is characterized by perfect competition, every firm in the industry is earning zero economic profit. If the product price falls, no firms can survive. Do you agree or disagree?...
-
For the past nine months, Iliana has been producing artisanal ice creams from her small shop in Chicago. She's been just breaking even (earning zero economic profit) that entire time. This morning,...
-
Research the Fisher-Yates shuffling algorithm online, then use it to reimplement the shuffle method in Fig.7.12. Fig.7.12 I // Fig. 7.12: DeckOfCards.java 2 // DeckOfCards class represents a deck of...
-
(Classification of Liabilities) Presented below are various account balances. (a) Bank loans payable of a winery, due March 10, 2014. (The product requires aging for 5 years before sale.) (b)...
-
Mira Enterprises reported the following transactions: Cash balance Jan 1 , 2 0 2 3 $ 3 7 , 0 0 0 Inventory balance Jan 1 , 2 0 2 3 $ 2 0 , 0 0 0 Purchases during the period $ 3 4 8 , 0 0 0 Purchase...
-
Explain why the search methods can be used for planning.
-
Depletion ComputationsTimber Jonas Lumber Company owns a 7,000-acre tract of timber purchased in 2003 at a cost of $1,300 per acre. At the time of purchase the land was estimated to have a value of...
-
What role does diversity and inclusion play in fostering innovation and creativity within teams and across the organization ?
-
The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29 years of age or less and the age at first startup for 45% of entrepreneurs was 30 years of age or more...
-
Suppose that at the beginning of a year, the price of corn is $3.80 per bushel and 14 billion bushels are harvested. There are approximately 400,000 corn farmers, so the average output per farmer is...
-
Discuss the shape of the long-run supply curve in a perfectly competitive market. Suppose that a perfectly competitive market is initially at long-run equilibrium and then there is a permanent...
-
Air pressure is produced by (a) the weight of water vapor. (b) the weight of air. (c) the force of wind. (d) warm, moist air.
-
Pierre, a cash basis, unmarried taxpayer, had $3,560 of state income tax withheld during 2023. Also in 2023, Pierre paid $890 that was due when he filed his 2022 state income tax return and made...
-
How does Process Analytical Technology (PAT) support real-time monitoring and control in bioprocessing, and what impact does it have on process optimization and product consistency ?
-
1 In February 2016, Za Publications Sdn Bhd, a publishing company, published a book 'Cinta, Hidup dan Kebebasan', the Malay translation of a book titled 'Love, Live and Liberty' written by a Canadian...
-
How to compute to know if chintu should employ in house marketing or to simply koutsource this task? Chintu wants to ensure that her new business has a strong focus on corporate social...
-
You are writing a legal memorandum and want to include the following list. Which numbering system would be your best option? The three requirements of standing are 1) injury in fact, 2) causation,...
-
Are capital controls effective in practice? Explain.
-
Choose two matrices A and B with dimension 2 x 2. Calculate det A, det B, and det (AB). Repeat this process until you are able to discover how these three determinants are related. Summarize your...
-
What is the difference between a horizontal merger and a vertical merger? Which type of merger is more likely to increase the market power of a newly merged firm?
-
In 2016, telecommunications company AT&T reached an agreement to buy TimeWarner, which owns cable networks, magazines, and a film studio. In an interview with the Wall Street Journal, the CEOs of the...
-
An article in the Wall Street Journal on the DOJs investigation into possible price fixing by pharmaceutical firms selling generic drugs noted, Agreements among companies to set prices or to divide...
-
Shakespearenever fails to stun an audience with a complex yet entertaining character. HisplayofMacbethis no exception. One might judge Macbeth to be the valiant hero of the play, to the audiences...
-
In the context of performance management in not-for-profit organizations, Discuss the difference between objectives, Outputs, outcomes, and impact. Give an example of an objective, an output, And an...
-
Evidence is used to make a decision whenever the decision follows directly from the evidence (Tingling & Brydon, 2010). This is where so many people get it wrong or going by their personal beliefs or...
Study smarter with the SolutionInn App