Total profits across the market

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Reference no: EM1374553

In a short run condition in which quantity demanded equals quantity supplied in a competitive industry, with value greater than the average cost of the typical company,

A) total profits across the market are negative and some firms will be forced to leave.

B) The profit of the typical firm must nonetheless be zero so that firms neither enter nor leave the market.

C) total profits across the market are positive and some new firms will be attracted to the market.

D) one firm will grow to dominate the market and set both price and quantity.

E) none of the above

Reference no: EM1374553

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