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

Author Question: Which of the following statements about the short run and long run is true? A) The number of ... (Read 71 times)

futuristic

  • Hero Member
  • *****
  • Posts: 638
on: Jun 29, 2018
Which of the following statements about the short run and long run is true?
 
  A) The number of firms in the industry is fixed in the short run, but in the long run the number can change.
  B) Free entry and exit of firms is possible in the short run, but entry and exit of firms is restricted in the long run.
  C) The short-run average cost curves lies below the long-run average cost curves.
  D) A firm can vary all of its factors of production in both the short run and the long run.

Question 2

Zero economic profits would most likely exist in which market environment?
 
  A) Pure monopoly
  B) Oligopoly
  C) Perfect competition
  D) Any market structure riddled with uncertainty
  E) None of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

akemokai

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


futuristic

  • Member
  • Posts: 638
Reply 2 on: Jun 29, 2018
Excellent

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Chromosome number is halved Chromosome number is halved
True Forget-Me-Not True Forget-Me-Not
Men and women work the same number of hours a week, but men spend more time on paid work, and women ... Men and women work the same number of hours a week, but men spend more time on paid work, and women ...
A ring link network reduces the number of wires it takes to interconnect all of the modules. A ring link network reduces the number of wires it takes to interconnect all of the modules.
Number Number
Each chromosome consists of a single, long molecule of DNA within which are the sequences of individ Each chromosome consists of a single, long molecule of DNA within which are the sequences of individ
Video: Embryonic development - Week 4

For a complete list of videos, visit our video library