Microeconomics

In the long-run perfectly competitive equilibrium, firms produce at the minimum of average total cost.

Started by Alygatorr01285

In a perfectly competitive industry, in the long run:

Started by waynest

Long-run equilibrium for a perfectly competitive industry occurs when:

Started by theo

If the market demand decreases for a good sold in a perfectly competitive market, firms in the market:

Started by Kthamas

Firms in the long run do not experience diminishing marginal returns. Then why do some industries ...

Started by Marty

One reason for increasing costs industries is that as an industry grows, it drives up the prices of inputs.

Started by ereecah

In an increasing-cost industry, the long-run market supply curve is:

Started by EY67

Costs increase with output in an increasing-cost industry because:

Started by nramada

In the long run, each firm in a perfectly competitive market earns zero economic profit.

Started by cherise1989

A competitive firm's short-run supply curve is perfectly elastic.

Started by scienceeasy

The summation of all individual firm marginal cost curves above the minimum of the average variable ...

Started by tuffie

The supply curve for a perfectly competitive market:

Started by dollx

A firm's short-run supply curve is the firm's:

Started by mrsjacobs44

Explain why a firm's shut-down decision does not incorporate the fixed costs of the production facility.

Started by mmm

Why does it make sense for unprofitable firms to stay in business?

Started by crobinson2013

In the short run a manufacturing firm's production equipment is a sunk cost.

Started by Tirant22

Perfectly competitive firms always produce the quantity that minimizes average total cost in the short run.

Started by abern

A firm with total revenue of $500, total cost of $700, and variable cost of $400 should continue to ...

Started by Bernana

Recall the Application about the shutdown price for zinc to answer the following question(s).Recall ...

Started by NClaborn

In the short run, a firm considers its fixed cost as a(n):

Started by KimWrice

If a firm has already paid or has agreed to pay for something we call it:

Started by bb

Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total ...

Started by nautica902

Suppose Tim's Cowboy boot factory produces in a perfectly competitive market. Suppose the average ...

Started by tfester

You are hired by Jimbo's Potato Farm to determine when Jimbo should shut down and produce no ...

Started by ENagel

Output (Q)Total Fixed CostTotal Variable Cost020012052207320104201552021Table 9.1Table 9.1 shows the ...

Started by Kthamas