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What else can I help you with?
Can a monopoly earn economic profits in the long run?
Yes
Which statements is true about profits in a monopolistically competitive market?
many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term
When the colony was started the Dutch hoped to earn large profits from what economic activities?
The fur trade :)
How do monopolistically competitive firms earn profits?
Monopolistically competitive firms earn profits by differentiating their products, allowing them to charge higher prices than those in perfectly competitive markets. They attract customers through unique features, branding, or quality, leading to a downward-sloping demand curve. In the short run, if the price exceeds average total costs, they can earn economic profits. However, in the long run, the entry of new firms typically erodes these profits, as they offer similar products and increase competition.
When do economic profits disappear?
Economic profits disappear when a company's total revenue equals its total costs, including both explicit and implicit costs. This means that the company is no longer making a profit above and beyond what it could earn in an alternative investment.
Can a monopoly earn economic profits in the long run?
Yes
Which statements is true about profits in a monopolistically competitive market?
many firms will earn profits in the short term, but they must constantly innovate and compete to earn profits in the long term
When the colony was started the Dutch hoped to earn large profits from economic activities?
The fur trade :)
When the colony was started the Dutch hoped to earn large profits from what economic activities?
The fur trade :)
When the dutch colony was started the dutch hoped to earn large profits from economic activities?
The fur trade :)
How do monopolistically competitive firms earn profits?
Monopolistically competitive firms earn profits by differentiating their products, allowing them to charge higher prices than those in perfectly competitive markets. They attract customers through unique features, branding, or quality, leading to a downward-sloping demand curve. In the short run, if the price exceeds average total costs, they can earn economic profits. However, in the long run, the entry of new firms typically erodes these profits, as they offer similar products and increase competition.
Can you earn money while in jail in the game of Monopoly?
No, you cannot earn money while in jail in the game of Monopoly.
When do economic profits disappear?
Economic profits disappear when a company's total revenue equals its total costs, including both explicit and implicit costs. This means that the company is no longer making a profit above and beyond what it could earn in an alternative investment.
How do credit card companies earn profits?
Credit card companies earn profits by charging interest.
What is the definition of expanding industry?
An industry whose firms earn economic profits and for which an increase in output occurs as new firms enter the industry.
What is goals for franchise for short terms?
To simply earn profit for the purpose of economic goal.
Can a oligopoly earn long run economic profits?
Yes, an oligopoly can earn long-run economic profits due to the market power held by a few dominant firms. These firms typically engage in strategic pricing and may collaborate (explicitly or implicitly) to restrict output and maintain higher prices. Barriers to entry, such as high startup costs and brand loyalty, further protect these firms from new competitors, allowing them to sustain profits over time. However, the level of competition within the oligopoly can influence the extent of these long-term profits.
