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

Author Question: When a perfectly competitive firm is in long-run equilibrium, what is the relationship between the ... (Read 60 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
on: Jun 29, 2018
When a perfectly competitive firm is in long-run equilibrium, what is the relationship between the firm's marginal cost, average total cost, marginal revenue, and price?
 
  What will be an ideal response?

Question 2

When a firm is experiencing diseconomies of scale
 
  A) the MP curve has a negative slope.
  B) the LRAC curve has a positive slope.
  C) it must also experience diminishing returns to labor.
  D) the MC curve has a negative slope.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anoriega3

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

Marginal cost and average total cost equal the market price, which is also the marginal revenue.

Answer to Question 2

B


rlane42

  • Member
  • Posts: 594
Reply 2 on: Jun 29, 2018
Wow, this really help

bulacsom

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

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?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Went and Briggs demonstrated the relationship between light perception and auxin function. Went and Briggs demonstrated the relationship between light perception and auxin function.
Two views of the phylogenetic relationship between Neandertals and modern H. sapiens. Two views of the phylogenetic relationship between Neandertals and modern H. sapiens.
Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr
Relationship between Income per Capita and Population Growth Relationship between Income per Capita and Population Growth
The urinary system: Relationship of the kidneys to the vertebrae The urinary system: Relationship of the kidneys to the vertebrae
What will be the pH of the solution once equilibrium is established? What will be the pH of the solution once equilibrium is established?
Video: Chemical Equilibrium between N2O4 (colorless gas) and NO2 (brown gas)

For a complete list of videos, visit our video library