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

Author Question: Which of the following is ALWAYS true for a perfectly competitive firm? A) P = MR B) P = ATC C) ... (Read 21 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
on: Jun 29, 2018
Which of the following is ALWAYS true for a perfectly competitive firm?
 
  A) P = MR
  B) P = ATC
  C) MR = ATC
  D) P = AVC

Question 2

If the market for roller blades is at a competitive equilibrium, and there are no external costs or benefits, then
 
  A) marginal social benefit is equal to marginal social cost.
  B) the sum of consumer surplus and producer surplus is maximized.
  C) resources are being used efficiently.
  D) All of the above answers are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jasonq

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

A

Answer to Question 2

D


tichca

  • Hero Member
  • *****
  • Posts: 554
Reply #2 on: Jun 29, 2018
Thank you :)


jasonq

  • Sr. Member
  • ****
  • Posts: 335
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

A true albino squirrel. Note the pink eyes. A true albino squirrel. Note the pink eyes.
Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ... A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ...
Competitive firms and maximization Competitive firms and maximization
Video: Reflex arc construction

For a complete list of videos, visit our video library