Which of the following is not a necessary condition for long-run equilibrium under perfect competition? A)no firm has an incentive to enter the market b)no firm has an incentive to exit the market c)prices are relatively low d)each firm earns zero economic profit

Which of the following is not a necessary condition for long-run equilibrium under perfect competition? A)no firm has an incentive to enter the market b)no firm has an incentive to exit the market c)prices are relatively low d)each firm earns zero economic profit

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 19SQ

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