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

Author Question: In the short run, a perfectly competitive firm suffering a loss a. will close if P < AVC b. ... (Read 13 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
In the short run, a perfectly competitive firm suffering a loss
 a. will close if P < AVC
  b. will shut down operations if P < MC
  c. cannot leave the industry even if P < AVC
  d. can sell off all its resources to competitors
  e. can raise the price to increase revenues

Question 2

For a nondiscriminating monopolist, which of the following statements is true?
 a. Unlike a firm in perfect competition, a monopolist produces where MR > MC.
  b. The monopolist's marginal revenue curve is the same as its demand curve.
  c. The monopolist will always produce in the inelastic range of its demand curve.
  d. The monopolist does not have a supply curve.
  e. The monopolist produces where MR < MC.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

al

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

D


sam.t96

  • Member
  • Posts: 570
Reply 2 on: Jun 30, 2018
Excellent

LVPMS

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Terrestrial plants and animals can be characterized by analogous pathways for water gain and loss. Terrestrial plants and animals can be characterized by analogous pathways for water gain and loss.
Close-up of a cat's claw, with the quick clearly visible Close-up of a cat's claw, with the quick clearly visible
Drawing of French explorer Paul du Chaillu at close quarters with a gorilla Drawing of French explorer Paul du Chaillu at close quarters with a gorilla
The “Old Man” from La Chapelle shows evidence of extensive tooth loss and bone resorption. The “Old Man” from La Chapelle shows evidence of extensive tooth loss and bone resorption.
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
The relationship between the permissible exposure limit (PEL), the short-term exposure limit (STEL), ... The relationship between the permissible exposure limit (PEL), the short-term exposure limit (STEL), ...
Video: Structures that affect circulation - heart and systolic/diastolic BP

For a complete list of videos, visit our video library