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

Author Question: In the short run, a perfectly competitive firm NEVER A) earns an economic profit. B) incurs a ... (Read 84 times)

mynx

  • Hero Member
  • *****
  • Posts: 555
on: Jun 29, 2018
In the short run, a perfectly competitive firm NEVER
 
  A) earns an economic profit.
  B) incurs a loss greater than its total fixed costs.
  C) produces where MR = MC.
  D) earns a normal profit.

Question 2

One difference between perfect competition and monopolistic competition is that
 
  A) a perfectly competitive industry has fewer firms.
  B) in perfect competition, firms produce slightly differentiated products.
  C) monopolistic competition has barriers to entry.
  D) firms in monopolistic competition face a downward-sloping demand curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

iceage

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

B

Answer to Question 2

D


mynx

  • Member
  • Posts: 555
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Economic activity as viewed by environment and ecological economists Economic activity as viewed by environment and ecological economists
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
economic question economic question
economic question economic question
economic question economic question
economic question economic question
Video: Kidney Stones

For a complete list of videos, visit our video library