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

Author Question: For a monopolistically competitive firm in long run equilibrium: a. marginal revenue equals ... (Read 57 times)

jake

  • Hero Member
  • *****
  • Posts: 538
on: Jun 30, 2018
For a monopolistically competitive firm in long run equilibrium:
 a. marginal revenue equals marginal cost and price equals average cost.
 b. the economic profits it is earning will soon be competed away by entry.
  c. accounting profits are zero and price equals marginal cost.
 d. marginal revenue equals marginal cost and average total cost is minimized.

Question 2

Farmers can avoid the free rider problem associated with the benefits received from beekeepers by:
 a. forming local associations who contract with beekeepers.
  b. excluding non payers from using the services provided by beekeepers.
  c. fixing a low charge for the service provided by beekeepers.
  d. contracting with selective beekeepers and giving them a share of farm output.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fur

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

A


jake

  • Member
  • Posts: 538
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

epscape

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

The rate of evolution in short­ and long­lived plants The rate of evolution in short­ and long­lived plants
Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ... Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
How Long Do You Ovulate After Your Period? How Long Do You Ovulate After Your Period?
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 ...
Competitive firms and maximization Competitive firms and maximization
Video: Osteoporosis

For a complete list of videos, visit our video library