There are 300 purely competitive farms in the local dairy market. Or the 300 dairy farms, 298 have a cost structure that generates profits of $21 for every $300 invested Instructions: Enter your answers as whole numbers a What is the percentage rate of return for these 298 daines?Ipercent b. The other two dairies have a cost structure that generates profits of $24 for every $200 invested. What is their percentage rate of return? percent c. Assuming that the normal rate of proft in the economy is 10 percent, and firms cannot copy each other's technology, will there be entry or exit? (Click to select) Will the change in the number of firms affect the two that earn $24 for every $200 invested? What will be the rate of return earned by most firms in the Industry in long-run equilibrium? Click to select) percent firms can copy each others technology, what will be the rate of return eventually earned by all firms? percent
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