A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 7 percent. This firm is earning $18 on every $200 invested by its founders.

Instructions: Enter your answers as whole numbers.

a. What is its percentage rate of return?
b. Is the firm earning an economic profit?
If so, how large?
c. Will this industry see entry or exit?
d. What will be the rate of return earned by firms in this industry once the industry reaches long-run equilibrium?

answer; ///usually the ( irs ) selects returns that are the most likely have errors,based on complex criteria;

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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borrow money from the government then pay the government back 5k

answer; normative economics;