If a perfectly competitive firm is operating in long-run ...

[dejastew]

If a perfectly competitive firm is operating in long-run equilibrium and market demand suddenly falls, the short-run result will be
 a. greater economic profit
  b. a normal profit
  c. lower average total cost
  d. lower average variable cost
  e. an economic loss

Question 2

A monopolist price discriminates by
 a. charging different buyers different prices for different products
  b. charging different buyers different prices for the same product
  c. selling at a price below average total cost
  d. selling at a price below marginal cost
  e. selling at a price above marginal revenue

[Expo]

Answer to Question 1

E

Answer to Question 2

B