Business, 20.03.2020 23:08 xxaurorabluexx
Over the past 5 years, 50 new restaurants have opened and 30 have closed in the city of Zuni. Currently there are 110 restaurants operating in the city. Which of the following best represents the market structure, barriers to entry, and economic profits in the long run?
Market Structure = Perfectly Competitive ; Barriers to Entry = Low ; Long Run Economic Profit = Negative
Market Structure = Perfectly Competitive ; Barriers to Entry = High ;Long Run Economic Profit = Positive
Market Structure = Monopolistic Competition ; Barriers to Entry = Low ;Long Run Economic Profit = Zero
Market Structure = Monopolistic Competition ; Barriers to Entry = High ; Long Run Economic Profit = Positive
Market Structure = Monopolistic Competition ; Barriers to Entry = High ; Long Run Economic Profit = Zero
Answers: 3
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Over the past 5 years, 50 new restaurants have opened and 30 have closed in the city of Zuni. Curren...
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