a hair styling salon is closest to which type of market?
what does an economic profit of zero mean?
the firm is earning equal to its alternative earnings
the firm is earning at the shut down level
the firm is earning zero dollars
all the firms in the market are earning the same amount
in perfect competition, why is marginal revenue equal to price?
actually, marginal revenue is less than price for the firm
because the elasticity of demand is equal to negative one
because the firm receives the market price for each sale
because as the firm makes more sales, it must charge a lower price
which is NOT a barrier to entry into a market
economies of scale
government restrictions on entry
the ability to set price for its products
restricted ownership of resources
monopolistic competition the firm is earning at the... View the full answer