When new firms enter a monopolistically competitive market, the economic profits of existing firms
a. will increase because their average cost of production will decrease.
b. will decrease because their demand curves will shift to the left.
c. will increase increase because their demand curves will become more elastic elastic.
d. will remain unchanged because they sell differentiated products.
e. will decrease because their demand curves will shift to the right?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “When new firms enter a monopolistically competitive market, the economic profits of existing firms a. will increase because their average ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Reverend samuel stanhope smiths proposal that skin color should be viewed as a product of climate and therefore not correlated to inner virtues (e. g., intelligence, character, personality) suggests that he felt:
Answers (1)
Strike offers to sell Bailey one thousand shirts for a stated price. The offer declares that shipment will be made by Dependable Truck Line. Bailey replies, "I accept your offer for one thousand shirts at the price quoted.
Answers (1)
Gerold's travel service just paid $1.79 to its shareholders as the annual dividend. simultaneously, the company announced that future dividends will be increasing by 3.2 percent. if you require a 10.
Answers (1)
Judith puts $5000 into an investment account with interest compounded continuously. which approximate annual rate is needed for the account to grow to $9110 after 30 years?
Answers (1)
First Community Bank spent a considerable amount of money updating its lobby with plush sofas, a large-screen television, and a refreshment counter with popcorn and soft drinks. However, very few customers spend time in the lobby.
Answers (1)
New Questions in Business
n certain circumstances, a taxpayer who provides less than half the support of another may still be able to claim that person as a dependent as a qualifying relative. True/false
Answers (1)
According to Benjamin Lang what is the hardest thing about being an entrepreneur
Answers (1)
Which of the following is a noncash investing and financing activity? A. issuance of common stock to acquire land B. payment of a cash dividend C. purchase of inventory on account D. payment of a six-month note payable
Answers (1)
Conundrum Mining is expected to generate the above free cash flows over the next four years, after which they are expected to grow at a rate of 6% per year.
Answers (1)
Using the information below for Sundar Company; determine the cost of goods manufactured during the current year:Direct materials used $19,200Direct labor used 24,700Factory overhead 54,100Beginning work in process 10,900Ending work in process
Answers (1)