The characteristic of entry and exit ensures that firms
The characteristic of entry and exit ensures that firms
Earn excess profit
Earn normal profit
Break-even
Expand their operations
Correct answer is D
Free entry and exit are economic terms used to describe the condition of a free market economic
Free entry is a condition in which sellers can freely enter the market with its product to make sales. Free exit occurs when a firm can leave the market without limit when economic losses are being incurred. Firms tend to expand in their operations as they grow, the concept of free entry and exit avails them the opportunity of entering and leaving a market at will.
Stock exchange market deals with ...
Minimum price legislation by government will ...
Petroleum 'glut' in international trade means_____ ...
Because money serves as a standard for deferred payments ...
In perfect competition, price is determined by the ...
Which of the following is not a reason why people migrate from one place to another? ...
All the following are specific examples of indirect tax except ...
Wholesalers play an important in the distribution of goods and services because they ...