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

Author Question: Which of the following statements is not characteristic of a perfectly competitive industry in ... (Read 44 times)

azncindy619

  • Hero Member
  • *****
  • Posts: 562
on: Jun 30, 2018
Which of the following statements is not characteristic of a perfectly competitive industry in long-run equilibrium?Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
 a. A profit-maximizing firm may produce any output level at which P < LRATC.
  b. Every firm produces at an output level at which MC = LRATC.
 c. Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
  d. No firm earns an economic profit.

Question 2

Which of the following is an absolute measure of poverty?
 a. Gini co-efficient
  b. Per capita income
  c. HiLo ratio
  d. Hoover index
  e. Theil index


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


azncindy619

  • Member
  • Posts: 562
Reply 2 on: Jun 30, 2018
Excellent

Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

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?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

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?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Competitive inhibition Competitive inhibition
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
How to convert verbal statements into algebraic equations (Part 1) How to convert verbal statements into algebraic equations (Part 1)
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Video: ADH and the arterioles, kidneys, sweat glands and the Atrial natriuretic peptide (ANP)

For a complete list of videos, visit our video library