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

Author Question: In long-run equilibrium, the perfectly competitive firm sets its price equal to which of the ... (Read 28 times)

123654777

  • Hero Member
  • *****
  • Posts: 585
on: Jun 30, 2018
In long-run equilibrium, the perfectly competitive firm sets its price equal to which of the following?
 a. Short-run average total cost.
  b. Short-run marginal cost.
  c. Long-run average cost.
  d. All of these.

Question 2

Suppose an economist found that total revenues increase for the bus system when fares were raised, the conclusion is that the price elasticity demand for subway services over the range of fare increase is inelastic.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

HandsomeMarc

  • Sr. Member
  • ****
  • Posts: 360
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


123654777

  • Member
  • Posts: 585
Reply 2 on: Jun 30, 2018
Excellent

billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually
Vapour-liquid equilibrium acetone + water Vapour-liquid equilibrium acetone + water
The features found in a long bone. The features found in a long bone.
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Enzyme structure - Properties of enzymes

For a complete list of videos, visit our video library