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

Author Question: In long-run equilibrium, a perfectly competitive firm will produce an output level at which its ... (Read 159 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
on: Jun 30, 2018
In long-run equilibrium, a perfectly competitive firm will produce an output level at which its long-run average cost curve is upward sloping.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Utility theory assumes that marginal utility:
 a. increases as an individual consumes more of a product.
  b. decreases as an individual consumes more of a product.
  c. is zero as long as the individual derives utility from the product.
  d. is constant as long as the individual derives utility from the product.
  e. is constant as long as the individual derives satisfaction from the product.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kardosa007

  • Sr. Member
  • ****
  • Posts: 300
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

b


mpobi80

  • Member
  • Posts: 519
Reply 2 on: Jun 30, 2018
:D TYSM

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long
A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per
The primary response causes B cells to produce memory B cells and a few antibodies. The second ... The primary response causes B cells to produce memory B cells and a few antibodies. The second ...
Brush off the back. Apply several long brushing strokes from head to hips to finish the session. Brush off the back. Apply several long brushing strokes from head to hips to finish the session.
An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ... An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ...
Long bone formation Long bone formation
Video: Reflex arc construction

For a complete list of videos, visit our video library