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

Author Question: The following diagram shows an industry which if organised competitively with thousands of firms ... (Read 25 times)

jlmhmf

  • Hero Member
  • *****
  • Posts: 552
on: May 25, 2020
The following diagram shows an industry which if organised competitively with thousands of firms will have an industry marginal cost curve of MC1. If it is a monopoly, thanks to economies of scale, it will have the lower MC curve MC2.



Referring to the diagram, which one of the following is correct?
◦ The perfectly competitive price and output are P1 and Q1 and the monopoly price and output are P2 and Q2.
◦ The perfectly competitive price and output are P3 and Q3 and the monopoly price and output are P2 and Q2.
◦ The perfectly competitive price and output are P1 and Q1 and the monopoly price and output are P4 and Q2.
◦ The perfectly competitive price and output are P3 and Q3 and the monopoly price and output are P4 and Q2.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jlmhmf on May 25, 2020

karmakat49

  • Sr. Member
  • ****
  • Posts: 369
Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


jlmhmf

  • Member
  • Posts: 552
Reply 2 on: May 25, 2020
:D TYSM

covalentbond

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

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?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g The salivary glands, parotid, sublingual, and submandibular. This image shows the position of each g
An example of a Hertzsprung–Russell diagram for a set of stars that includes the Sun An example of a Hertzsprung–Russell diagram for a set of stars that includes the Sun
Diagram of the food chain Diagram of the food chain
Stratigraphic section of the Fayum shows the relative age of early anthropoid fossils. Stratigraphic section of the Fayum shows the relative age of early anthropoid fossils.
Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
This map shows the percentage of Protestants by state in Germany. When compared to the previous map This map shows the percentage of Protestants by state in Germany. When compared to the previous map
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library