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

Author Question: Assume that there are two types of perfectly competitive firms whose cost of production differ. An ... (Read 67 times)

plus1

  • Hero Member
  • *****
  • Posts: 676
on: Jun 30, 2018
Assume that there are two types of perfectly competitive firms whose cost of production differ. An increase in input prices will lead to an exodus of high cost firms before low cost ones.
  Indicate whether the statement is true or false

Question 2

Which of the following statements is true in the context of the long run?
 a. All the factors of production are fixed.
  b. No new firms enter the market.
  c. The producer can vary all the factors of production.
  d. The firms earn positive economic profit.
  e. Large firms tend to acquire market power.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joneynes

  • Sr. Member
  • ****
  • Posts: 376
Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

c


plus1

  • Hero Member
  • *****
  • Posts: 676
Reply #2 on: Jun 30, 2018
Correct answers!


joneynes

  • Sr. Member
  • ****
  • Posts: 376
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Primary production is positively correlated with the evapotranspiration rate. Primary production is positively correlated with the evapotranspiration rate.
Types of Problems Used to Measure Intelligence Types of Problems Used to Measure Intelligence
The Types of Functions of the T Cells The Types of Functions of the T Cells
Types of catheters: Suprapubic catheter. Types of catheters: Suprapubic catheter.
Many different types of labels may be found on packages containing hazardous materials. Clockwise ... Many different types of labels may be found on packages containing hazardous materials. Clockwise ...
Water pollution types Water pollution types
Video: Hemodynamics Animation

For a complete list of videos, visit our video library