Competitive firms will try to earn more than normal profit

Assignment Help Business Economics

Reference no: EM13829945

Competitive firms will always try to earn more than a normal profit by doing the following, except

A. Adopting better production technology

B. Improving their business organization and operation

C. Developing new products

D. Raising the prices of their existing products

Reference no: EM13829945

Questions Cloud

The incremental cost-effectiveness ratio of the new drug : Consider that two drugs are available for the management of diabetic patients. The first, drug, the current practice, costs $12,000 over 15 years. The new drug costs $7,500 over 15 years. The outcome measure, quality adjusted life years (QALY) with t..

Overall-combined profit given the elasticity range : A proposal has been advanced to limit advertising of pharmaceutical prices to prevent unfair pricing by national chains. You estimate that limits on price advertising will change the price elasticity of demand from -5.63 to -4.43. From the pharmacist..

Recommend a course of action for shamrock oil : Using a decision tree, recommend a course of action for Shamrock Oil.You must state your answers within a complete sentence so that your understanding of applying the results of the computations can be observed. You should also include the work for y..

Cost-effectiveness analysis measure of the outcomes : Which of the following is NOT a cost-effectiveness analysis measure of the outcomes of medical interventions?

Competitive firms will try to earn more than normal profit : Competitive firms will always try to earn more than a normal profit by doing the following, except

Drug sells the drug at a price above the equilibrium price : If the maker of a patented drug sells the drug at a price above the equilibrium price, then there

Depreciation of currency and contractionary fiscal policy : Consider the equation: NX = S + (T-G) - I, afterwards, determine what happens to: Trade balance, public saving, private saving, and investment with respect to the following cases: Government Spending Increases. Foreign Output Increases. Simultaneous ..

Representing the purely competitive market for product : Refer to the graph above representing the purely competitive market for a product. When the market is at equilibrium, the total opportunity cost of producing the equilibrium output level would be represented by the area:

Average price of the drug falls to a lower equilibrium price : If the patent on a drug expires and the average price of the drug falls to a lower equilibrium price, there will be:

User Account

All Pages