« previous next »

Author Question: In long-run equilibrium, a. perfectly competitive firms in a decreasing-cost industry can earn ... (Read 55 times)

lracut11

  • Hero Member
  • *****
  • Posts: 536
on: Jun 30, 2018
In long-run equilibrium,
 a. perfectly competitive firms in a decreasing-cost industry can earn economic profits
  b. perfectly competitive firms in an increasing-cost industry can earn economic profits
  c. perfectly competitive firms in a constant-cost industry can earn economic profits
  d. perfectly competitive firms can earn only normal profits
  e. no entry occurs in an increasing-cost perfectly competitive industry

Question 2

Despite the Postal Service's legal monopoly over first-class mail delivery,
 a. the price of a first-class stamp has not changed for over a decade
  b. the price of a first-class stamp has fallen as delivery volume increased
  c. it still produces along the inelastic range of the market demand curve
  d. its faces competition from foreign suppliers
  e. it has lost huge chunks of other mail classes to private firms


frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Apply the substance to the arm with long, smooth strokes, then cover the arm and abdomen with the ... Apply the substance to the arm with long, smooth strokes, then cover the arm and abdomen with the ...
Food policy can drive the food industry Food policy can drive the food industry
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
C heck the description bcuz the question is too long. there is a file attached but it is the ... C heck the description bcuz the question is too long. there is a file attached but it is the ...
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
Competitive firms and maximization Competitive firms and maximization
Video: Phases of an Action Potential - Resting Potential, Threshold, Rising, Falling, & Recovery Phases

For a complete list of videos, visit our video library