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Author Question: Under long-run perfect competition, which of the following are the same (equal) at all levels of ... (Read 54 times)

D2AR0N

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Under long-run perfect competition, which of the following are the same (equal) at all levels of output?
 a. Price and marginal cost.
  b. Price and marginal revenue.
  c. Marginal cost and marginal revenue.
  d. All of these.

Question 2

In response to a price change for good Y, if the cross-elasticity of demand for good Y is positive, good X and good Y are complements.
 a. True
  b. False
  Indicate whether the statement is true or false



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jessofishing

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Answer to Question 1

b

Answer to Question 2

False





 

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