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Author Question: If a country operates on its PPF, it achieves production efficiency. Indicate whether the ... (Read 102 times)

MirandaLo

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on: Jun 29, 2018
If a country operates on its PPF, it achieves production efficiency.
 
  Indicate whether the statement is true or false

Question 2

The figure above shows the cost, marginal revenue, and demand curves of Golden Chow, a producer of dog food. The market for dog food is monopolistic competition. In the short run, Golden Chow sells 400 cans of dog food per day and makes ________.
 
  Other firms have ________ incentive to enter the industry. A) an economic profit of 200 a day; an
  B) an economic profit of 400 a day; an
  C) a normal profit of 200 a day; no
  D) an economic profit of 400 a day; no


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HandsomeMarc

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

A


MirandaLo

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

xiaomengxian

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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