When the typical seller in a market has economic profits, then:new sellers will enter the market.the number of sellers will remain steady.some sellers will exit the market.the market will disappear.

Profits are the excess of revenue receipts over the costs incurred by a firm in the production of…

Answered: When the typical seller in a market has…

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When the typical seller in a market has economic profits, then:

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 13SQ

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Question

When the typical seller in a market has economic profits, then:
new sellers will enter the market.
the number of sellers will remain steady.
some sellers will exit the market.
the market will disappear.

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