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

Author Question: In the long run, in a competitive industry a. economic profits are zero b. firms break even c. ... (Read 39 times)

Starlight

  • Hero Member
  • *****
  • Posts: 567
on: Jul 1, 2018
In the long run, in a competitive industry
 a. economic profits are zero
  b. firms break even
 c. price equals average cost
  d. all of the above

Question 2

In an auction where the bidders values are 400, 500, 650, 800 and 850, the highest two bidders form a bid-rigging cartel. What would be the winning bid in this auction?
 a. 501
  b. 651
  c. 801
  d. 846


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

covalentbond

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

b


Starlight

  • Member
  • Posts: 567
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Your heart beats over 36 million times a year.

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.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M
The features found in a long bone. The features found in a long bone.
Try an afternoon glass of cold grape juice for a refreshing break Try an afternoon glass of cold grape juice for a refreshing break
A very thin uniform rod, 2.40 m long and of weight 135 N, has a frictionless hinge at its lower ... A very thin uniform rod, 2.40 m long and of weight 135 N, has a frictionless hinge at its lower ...
economic question (having trouble) economic question (having trouble)
Economic practice question Economic practice question
Video: Primary and secondary response to infection

For a complete list of videos, visit our video library