Adjustment Process - Entry 1. What triggers entry in a competitive market? Describe the process that ends further entry. When fiırms in a competitive market make it serves as an inducement to other firms to the market. As the other firms the supply and the price . The change in the price eventually eliminates the economic profit, at which time the adjustment process stops. Adjustment Process - Exit 2. What triggers exit in a competitive market? Describe the process that ends further exit. When firms in a competitive market some of the firms will the market. As these firms , the supply and the price The change in the price eventually eliminates the economic loss, at which time the adjustment stops.

Adjustment Process - Entry 1. What triggers entry in a competitive market? Describe the process that ends further entry. When fiırms in a competitive market make it serves as an inducement to other firms to the market. As the other firms the supply and the price . The change in the price eventually eliminates the economic profit, at which time the adjustment process stops. Adjustment Process - Exit 2. What triggers exit in a competitive market? Describe the process that ends further exit. When firms in a competitive market some of the firms will the market. As these firms , the supply and the price The change in the price eventually eliminates the economic loss, at which time the adjustment stops.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 10PA

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Adjustment Process - Entry and Exit. Fill in the blanks.

Adjustment Process - Entry
1. What triggers entry in a competitive market? Describe the process that ends further entry.
When firms in a competitive market make
it serves as an inducement to other firms to
the
market. As the other firms
the supply
and the price
. The
change in the price eventually eliminates the economic profit, at which time the adjustment process stops.
Adjustment Process - Exit
2. What triggers exit in a competitive market? Describe the process that ends further exit.
When firms in a competitive market
some of the firms will
the market. As these firms
the supply
and the price
. The change in the price eventually
eliminates the economic loss, at which time the adjustment stops.

Definition Definition Entries made at the end of every accounting period to precisely replicate the expenses and revenue of the current period. This is also known as end of period adjustment. It can also refer to financial reporting that corrects errors made previously in the accounting period. Every adjustment entry affects at least one real account and one nominal account.

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