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Author Question: Long-run equilibrium for a perfectly competitive firm occurs when a. P = MC = MR = ATC b. MC = MR ... (Read 22 times)

corkyiscool3328

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on: Jun 30, 2018
Long-run equilibrium for a perfectly competitive firm occurs when
 a. P = MC = MR = ATC
  b. MC = MR = AFC = ATC
  c. MC = MR = P > ATC
  d. P > MC > MR > ATC
  e. TR > TC

Question 2

The actual deadweight loss from monopoly in the U.S. may be greater than calculated estimates because some
 a. monopolies experience strong economies of scale
  b. monopolists spend resources to secure and maintain their monopoly
  c. monopolists may purposely keep price lower than its profit-maximizing level, in order to increase barriers to entry
  d. monopolists' markets are contestable
  e. monopolists' prices and profits are regulated by the government


DHRUVSHAH

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


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