Firms producing an identical product in a competitive market are producing at a level of output that maximizes profit. the current market price is $4.50 per unit and the firms are producing at an average total cost of $3.50 per unit. in the long-run, one should expecta. entry of new firms into this marketb. exit of firms from this marketc. no change in the number of firms in this marketd. more information is needed to answer this question.

American gas products manufactures a device called a can-emitor that empties the contents of old aerosol cans in 2 to 3 seconds. this eliminates having to dispose of the cans as hazardous wastes. if a certain paint company can save $75,000 per year in waste disposal costs, how much could the company afford to spend now on the can-emitor if it wants to recover its investment in 3 years at an interest rate of 20% per year?

Which of the following best describes how the federal reserve bank banks during a bank run? a. the federal reserve bank has the power to take over a private bank if customers demand too many withdrawals. b. the federal reserve bank can provide a short-term loan to banks to prevent them from running out of money. c. the federal reserve bank regulates exchanges to prevent the demand for withdrawals from rising above the required reserve ratio. d. the federal reserve bank acts as an insurance company that pays customers if their bank fails. 2b2t

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.