Answer:
Prices drop when other perfectly competitive firms see an opportunity to earn profits and enter the market.
Explanation:
In a perfectly competitive market, firms can freely enter and exit the market in the long run.
Short run is too short for firms to enter or exit. So when the existing firms enjoy profits in the short run, this attracts the potential firms to enter the market in the long run.
As new firms join the market, market supply increases. This causes the market supply curve to shift to the right. The price level falls.
This causes the market share and profits of firms to decline.
You would Ask for cash back
Answer:
False, the labor forced increased
Explanation:
labor force = total number of people actively working (employed) or searching for jobs (unemployed)
lets say L = the total labor force in 2010
by 2016, L had increased by 12.1 million and decreased by 7.3 million
net change of L = 12.1 - 7.3 = 4.8 more million people were part of the labor force in 2016 than in 2010.
Answer:
$109,000
Explanation:
Average Investment = ( Initial Investment + Residual Value ) ÷ 2
Therefore,
Average Investment = ( $218,000 + $0) ÷ 2
= $109,000
