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Karo-lina-s [1.5K]
3 years ago
11

hen entry barriers into a market are low, firms will tend to earn zero economic profit in the long run because a. profit-seeking

entrepreneurs will not enter a market when entry barriers are low. b. short-run profit attracts additional suppliers and drives down the market price. c. consumers will refuse to pay more than the cost of producing a good once they find out the producer's per-unit costs. d. low entry barriers lead to rising costs
Business
1 answer:
tamaranim1 [39]3 years ago
3 0

Answer:

The correct answer is B

Explanation:

Economic profit is the difference among the revenue received from the sale of the output and the cost of all inputs used and opportunity cost.

Zero economic profit, it is the situation where the firm is earning the same if its resources were employed in the next alternative which is best.

When the entry barriers in the market are low, then the firm will have the tendency of having a zero economic profit in the period of long run, as the profit which is short run will attract the extra suppliers which will result in down in the market price of the product.

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Answer:

True

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1. How are people rational when they make choices?
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Answer:

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Answer:

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When moral values, rules and duties are subject to an ethical analysis, their relationship with the basic human interests shared by the population, regardless of their cultural environment, is particularly important. Moral values ​​can change and moral reasoning asks whether activities legitimated traditionally and in practice by religion, law or politics deserve to be recognized. Indeed, the evolution of ethics in the last century has been characterized by the tendency to change values ​​and overthrow the moral conventions that have guided relations between the sexes, between human beings and animals and between human beings and their environment. A more recent task of ethics is to offer resistance to these tendencies to globalization, commercialization and mastery of technology that erode biodiversity and valuable aspects of cultural identity and that could even threaten human rights. Although these trends are often presented as neutral in relation to values, they carry hidden hypotheses that are possible sources of inequality and abuse.

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