please as soon as possible If firms are making a positive economic profit, what happens in the market in the long run? Place the following statements inorder.Drag and drop options into correct order and submit. For keyboard navigation. SHOW MORE VMore firms want to enter the market.The supply of goods in the market increases.There is a downward pressure on prices since quantity supplied is greater than quantity demanded.Firms continue to enter the market until the price is equal to the average costs and economic profits are zero.There is no incentive for firms to enter or exit the market, and the market is in equllibrium.Quantity demanded increases, and quantity supplied decreases.Your answerHintRecall: A change in demand/supply is a shift of the entire curve. A change in QUANTITY demanded/supplied is movement along thecurve.

We need to put the given statements in the correct order. Positive economic profits means revenues…

firms are making a positive economic profit, what happens in the market in the long run? Place the following statements in order, Drag and drop options into correct order and submit. For keyboard navigation. SHOW MORE More firms want to enter the market. The supply of goods in the market increases. There is a downward pressure on prices since quantity supplied is greater than quantity demanded.

firms are making a positive economic profit, what happens in the market in the long run? Place the following statements in order, Drag and drop options into correct order and submit. For keyboard navigation. SHOW MORE More firms want to enter the market. The supply of goods in the market increases. There is a downward pressure on prices since quantity supplied is greater than quantity demanded.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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