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

Author Question: When a perfectly competitive firm is in long-run equilibrium, it and all other firms are on the ... (Read 51 times)

naturalchemist

  • Hero Member
  • *****
  • Posts: 542
on: Jun 30, 2018
When a perfectly competitive firm is in long-run equilibrium, it and all other firms are on the lowest point of their average cost curves.
  Indicate whether the statement is true or false

Question 2

The permanent shut down point of a perfectly competitive firm, in the long run, is:
 a. the minimum point of the AVC curve.
  b. the minimum point of the MC curve.
  c. the minimum point of the AR curve.
  d. the minimum point of the ATC curve.
  e. the minimum point of the AFC curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tdewitt

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

d


naturalchemist

  • Member
  • Posts: 542
Reply 2 on: Jun 30, 2018
:D TYSM

peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz
A port fuel-injected engine that is equipped with long, tuned intake-manifold runners. A port fuel-injected engine that is equipped with long, tuned intake-manifold runners.
Brush off front to finish. Long brushing strokes from head to feet to finish. Brush off front to finish. Long brushing strokes from head to feet to finish.
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
What will be the pH of the solution once equilibrium is established? What will be the pH of the solution once equilibrium is established?
A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library