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

Author Question: Firms in monopolistic competition and perfect competition typically a. are price takers b. produce ... (Read 182 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
on: Jun 30, 2018
Firms in monopolistic competition and perfect competition typically
 a. are price takers
  b. produce identical products
  c. earn zero economic profit in the long run
  d. face a downward-sloping demand curve
  e. face an upward-sloping total revenue curve at all rates of output

Question 2

As a result of legislation to establish a floor price for milk, most dairy farmers will
 a. end up earning a normal rate of return in the long run
  b. end up earning a zero rate of return in the long run
  c. end up earning a negative rate of return in the long run
  d. benefit from the increased cost of specialized resources used in dairy farming
  e. suffer if they own specialized resources at the time the legislation is passed


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shoemake

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

A


BrownTown3

  • Member
  • Posts: 564
Reply 2 on: Jun 30, 2018
:D TYSM

chjcharjto14

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

How genes produce proteins that determine traits in a simple dominant-recessive relationship. How genes produce proteins that determine traits in a simple dominant-recessive relationship.
The term wasp is typically defined as any insect of the order Hymenoptera and suborder Apocrita that The term wasp is typically defined as any insect of the order Hymenoptera and suborder Apocrita that
Alexander Fleming photographed in his lab where he observed the natural competition between a fungus Alexander Fleming photographed in his lab where he observed the natural competition between a fungus
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
opener E. coli have been genetically engineered to produce lycopene opener E. coli have been genetically engineered to produce lycopene
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Protein catabolism - deamination

For a complete list of videos, visit our video library