The firms in a competitive market stracture are making an esonomic profit when n

Question

The firms in a competitive market stracture are making an esonomic profit when new firms enser.the enter shifts the short- run market supply curve , the market price and each firm's economic profit. leftward falls decreases leftwardnsct decreases inghtward rite icreases rightward tails decreases In the above figure, the firm will produce In the above figure, the firm's total economic profit is equal to The USDA maintains ethanol has an impact on food pnecs "Higher ethanol production definitely and directly raises the price of com," said USDA economist Ephraim Lcibtyg. In the long run in the com market, what is true if the production of ethanol increases? Diminishing marginal returns occurs when

Explanation / Answer

1. d rightward, falls, decrease

2. 20 units

3. $200

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