This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Does a competitive long-run equilibrium require cost-minimization? A) Yes, if firms fail to be as ... (Read 7 times)

Brittanyd9008

  • Hero Member
  • *****
  • Posts: 500
on: Jul 1, 2018
Does a competitive long-run equilibrium require cost-minimization?
 
  A) Yes, if firms fail to be as efficient as their competitors, they are driven out of the market.
  B) No, in the long run, firms make zero profits.
  C) Yes, if they didn't, even less efficient firms would enter the industry.
  D) No, because competition ensures their survival.

Question 2

Suppose a farmer in a perfectly competitive agricultural industry rents land that is uniquely productive in the production of a certain crop. In the long run,
 
  A) the owner of the land receives economic rent while the farmer earns zero economic profit.
  B) the owner of the land earns zero economic profit while the farmer receives economic rent.
  C) both the farmer and the owner of the land receive economic rent.
  D) neither the farmer nor the owner of the land receive economic rent.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vkodali

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 45% of students answer this correctly


Brittanyd9008

  • Member
  • Posts: 500
Reply 2 on: Jul 1, 2018
:D TYSM

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Long-term studies of the Glanville fritillary butterfly, Melitaea cinxia, have provided exceptional Long-term studies of the Glanville fritillary butterfly, Melitaea cinxia, have provided exceptional
Horses require routine hoof care Horses require routine hoof care
Features found in a long bone. Features found in a long bone.
Growth of Dendritic Spines After Long-Term Potentiation Growth of Dendritic Spines After Long-Term Potentiation
Kinesthesis and Equilibrium Kinesthesis and Equilibrium
Long noncoding RNAs mediate transcriptional activation Long noncoding RNAs mediate transcriptional activation
Video: Definitions of stroke volume, preload definition & Factors influencing stroke volume

For a complete list of videos, visit our video library