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Elementary,Middle School,High School,College,University,PHD

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Applied Sciences,Chemistry See all
Applied Sciences,Chemistry,Communications,Economics,Engineering,Environmental science Hide all
Teaching Since: Apr 2017
Last Sign in: 270 Weeks Ago, 6 Days Ago
Questions Answered: 352
Tutorials Posted: 351

Education

  • MBA,PHD in Psychology
    Northwest Florida State College
    Jun-1992 - May-1997

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  • Professor
    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 03 May 2017 My Price 9.00

A student remarks:

3.6 A student remarks: If firms in a monopolistically competitive industry are earning economic profits, new firms will enter the industry. Eventually, a representative firm will find that its demand curve has shifted to the left, until it is just tangent to its average total cost curve and it is earning zero profit. Because firms are earning zero profit at that point, some firms will leave the industry, and the representative firm will find that its demand

curve will shift to the right. In long-run equilibrium, price will be above average total cost by just enough so that each firm is just breaking even. Briefly explain whether you agree with this analysis.

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Status NEW Posted 03 May 2017 01:05 PM My Price 9.00

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