Assume that the tuna fishing industry is perfectly competitive.  Which of the following best characterizes the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna? 1- a constant-cost industry  2- a fixed-cost industry 3- a decreasing-cost industry 4- an increasing-cost industry

Only typed answer and please answer correctly  It is possible to lower the average cost of production by expanding output beyond Q0 to Q1. Why wouldn't a firm expand its output to Q1?   Group of answer choices   a) Demand is not sufficient for consumers to buy Q1.   b) The firm would suffer an economic loss at Q1 while it would break even at Q0.   c) The firm's marginal revenue would be negative at Q1.   d) The firm wants to maximize accounting profit rather than economic profit.

Suppose that the price of corn, a crop produced in a perfectly (or purely) competitive industry, increased 208% last year as demand for corn‑based ethanol fuel increased.   What do you expect to happen in the long run for the corn industry given this recent success?   A. The price per bushel of corn will continue to increase, yielding higher profits. Thus, more firms will enter the market indefinitely. B. Profits will become negative due to overfarming, which will result in the corn farming industry going under. C. Profits will be equal to zero. D. None of the above.   Suppose the firms in the market for bacon, also a perfectly (or purely) competitive industry, experienced losses last quarter due to people becoming increasingly concerned about how high-fat diets negatively impact health.   What do you expect to happen in the long run for the bacon industry?   A. Seeing this as an opportunity to monopolize a fledging industry, firms will enter the industry, shifting…

What principle explains why tech companies are leaving California for Texas but movie studios are not? Group of answer choices perfect competition elastic demand mean reversion of profitability indifference principle