Which of the following is not a condition of long-run equilibrium for perfectly competitive firms?
a. price is equal to marginal cost
b. price is equal to minimum short-run average total cost
c. price is equal to minimum long-run average cost
d. price is equal to marginal revenue
e. economic profit is positive
Question 2
The U.S. Postal Service has found its monopoly eroded over time because
a. the demand for mail delivery has become more inelastic
b. Congress has taken away their monopoly over first-class mail
c. the U.S. Postal Service cannot handle the volume of transactions
d. the price of stamps has increased relative to other substitutes, such as the telephone, email, and online transactions
e. of the decline in the use of fax machines
Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz
Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually
Non-competitive inhibition
Transformation and Evolution of a Long-Period Comet
Dermatitis herpetiformis is a blistering skin condition associated with celiac disease.
Kinesthesis and Equilibrium