Easy for a firm to get into or exit from a market

Easy for a firm to get into or exit from a market

Business Economics

1. If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits

Select one:

1. only in a perfectly competitive or a monopoly market structure.
2. only in the short run.
3. only in an oligopolistic or a monopolistically competitive market structure.
4. only if it is a monopoly.
5. only if it is an oligopoly.
6. When economic profit is positive,

Select one:

1. accounting profit can be negative.
2. accounting profit can be zero.
3. accounting profit must be positive.
4. total revenue is maximum.
5. a normal profit is earned.