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

Author Question: In a perfectly competitive market in the short run, as the market demand increases, the firms ... (Read 144 times)

mwit1967

  • Hero Member
  • *****
  • Posts: 501
on: Jun 29, 2018
In a perfectly competitive market in the short run, as the market demand increases, the firms ________ their output and their economic profit ________.
 
  A) increase; increases
  B) increase; decreases
  C) decrease; decreases
  D) decrease; increases

Question 2

In one day, Brandon can either plow 10 acres or plant 20 acres. In one day, Christopher can either plow 14 acres or plant 14 acres. Which of the following statements about comparative advantage is CORRECT?
 
  A) Brandon has a comparative advantage in both plowing and planting.
  B) Brandon has a comparative advantage only in plowing.
  C) Brandon has a comparative advantage only in planting.
  D) Christopher has a comparative advantage in both plowing and planting.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

blakcmamba

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


mwit1967

  • Member
  • Posts: 501
Reply 2 on: Jun 29, 2018
Excellent

chereeb

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
Running time on 100-meter sprint for men and women master athletes increases with age. Source: Korho Running time on 100-meter sprint for men and women master athletes increases with age. Source: Korho
The number of words correctly completed in the New York Times crossword puzzle increases with age ... The number of words correctly completed in the New York Times crossword puzzle increases with age ...
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: baroreceptors

For a complete list of videos, visit our video library