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

Author Question: Which of the following accurately describes a major difference between a monopolist and firms in ... (Read 51 times)

javeds

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
Which of the following accurately describes a major difference between a monopolist and firms in perfectly competitive markets?
 a. The monopolist maximizes profit; firms in perfectly competitive markets maximize sales.
 b. The monopolist may earn long-run economic profit; firms in perfectly competitive markets cannot.
  c. The monopolist is a price taker; firms in other markets are price searchers.
 d. The monopolist may earn short-run profit; firms in perfectly competitive markets cannot.

Question 2

A firm's cost can decrease for each of the following reasons, EXCEPT:
 a. an increase in productivity due to experience.
  b. an improvement in productivity of capital employed.
  c. an improvement in work environment and quality of management.
  d. an increase in input prices.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

frejo

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

D


javeds

  • Member
  • Posts: 570
Reply 2 on: Jun 30, 2018
:D TYSM

rachel

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Major types of microbial cell shapes. Major types of microbial cell shapes.
The major fissures of the human cerebral cortex. The major fissures of the human cerebral cortex.
Major Wind Systems: Katabatic Winds Major Wind Systems: Katabatic Winds
Major events in the storage, retrieval, and use of fuels in the fed and unfed states Major events in the storage, retrieval, and use of fuels in the fed and unfed states
Difference between the house and the senate Difference between the house and the senate
Major Causes of Death from Infectious Disease Major Causes of Death from Infectious Disease
Video: Lipid catabolism ( ketogenesis and oxidation of glycerol) and Lipid anabolism (lipogenesis)

For a complete list of videos, visit our video library