Which of the following statements is correct? O D. Normal profits O A. Economic profits induce firms to leave an industry; profits encourage firms to O B. Economic profits induce firms to enter an industry; losses encourage firms to OC. Economic profits and losses have no significant impact on the growth or decline of an industry will cause an industry to expand leave leave

Which of the following statements is correct? O D. Normal profits O A. Economic profits induce firms to leave an industry; profits encourage firms to O B. Economic profits induce firms to enter an industry; losses encourage firms to OC. Economic profits and losses have no significant impact on the growth or decline of an industry will cause an industry to expand leave leave

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 21P

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