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Author Question: If a perfectly competitive firm is incurring a short-run loss, it a. then will incur a long-run ... (Read 51 times)

Mr.Thesaxman

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  • Posts: 514
on: Jun 30, 2018
If a perfectly competitive firm is incurring a short-run loss, it
 a. then will incur a long-run loss
  b. will shut down
  c. will continue to operate in the short run if its fixed cost is covered
  d. will continue to operate in the short run if its variable cost is covered
  e. will raise its price in the short run

Question 2

One likely result of monopoly power is
 a. a wide variety of substitute products from which consumers can choose
  b. an elimination of barriers to industry entry
  c. a decline in government regulation
  d. a higher price than would exist in a competitive industry
  e. an improvement in allocative efficiency


joanwhite

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

D

Answer to Question 2

D


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