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

Author Question: Monopolists can earn positive economic profits in the long run because they are more productively ... (Read 54 times)

deesands

  • Hero Member
  • *****
  • Posts: 514
on: Jun 30, 2018
Monopolists can earn positive economic profits in the long run because they are more productively efficient than perfectly competitive firms.
 a. True
  b. False

Question 2

A perfectly competitive firm producing 100 units of output per period finds that: Average total cost is 20; Average variable cost is 12; Marginal cost is 18 and increasing; Price of the product is 15. This firm should
 a. produce more output
  b. raise the price of its product
  c. reduce production without shutting down
  d. shut down (reduce output to zero)
  e. do nothing (it is currently maximizing profit)


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rleezy04

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

B

Answer to Question 2

C


deesands

  • Hero Member
  • *****
  • Posts: 514
Reply #2 on: Jun 30, 2018
Thank you :)


rleezy04

  • Sr. Member
  • ****
  • Posts: 322
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

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.

Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation. Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation.
Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually
The Gender Pay Gap Over Time: What Percentage of Men's Income Do Women Earn? The Gender Pay Gap Over Time: What Percentage of Men's Income Do Women Earn?
Bulk flow by positive pressure (pressure Bulk flow by positive pressure (pressure
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere
Video: Stroke volume - contractility definition

For a complete list of videos, visit our video library