with 20 firms in this market, the short… Show more PLEASE

with 20 firms in this market, the short… Show more PLEASE HELP!!!!! Short-run supply and long-run equilibrium with 20 firms in this market, the short-run equilibrium price of steel would be (900/600/150/250/400) per tonne. At the price, firms in this industry would ( earn a positive profit/ operate at a loss/ earn zero profit/ shut down). Therefore, in the long run, firms would ( exit/ neither enter nor exit/ enter) the steel market. because you know that perfectly comprtitive firms earn ( negative/ zero/ positive) economic profit in the long run, you know the long-run eqyilibrim price must be ($150/ $400/ $ 600/ $250/ $900) per tonne. From the graph, you can see that this means there wll be (20/ 40/ 30) firms perating in the steel industry in long-run eqilibrium. • Show less

PLACE ANY ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT.