Answer to Question #75189 in Microeconomics for SHEHZAAD

Question #75189

Explain using properly labelled diagrams, why a perfectly competitive firm will earn only normal profit in the long-run.

Expert's answer

Download Answer

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Lonewolf Ltd is the sole manufacturer and supplier of solar panels in the country. As a result of th
2. QUESTION 3 (20) 3.1 Briefly explain price elasticity of demand and how it is measured. (5) 3.2 Exp
3. 2.2 Using well labelled diagrams, explain how the equilibrium price and equilibrium quantity of appl
4. 2.1 A community in Northern Namibia produces only two goods, TVs and CDs. With the aid of properly l
5. 1. Calculate labor force participation rate in an economy with an adult population of 100, 50 of who
6. Why and how do monopolistically competitive firms fail to achieve allocative efficiency? Illustrate
7. Why is production possibilities curve is concave explain