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

Author Question: Suppose a typical firm in a competitive industry has the following data in the short run: price = ... (Read 46 times)

tyratatyanna

  • Full Member
  • ***
  • Posts: 137
on: Oct 12, 2022
Suppose a typical firm in a competitive industry has the following data in the short run: price = $6; output = 100 units; ATC = $8; AVC = $7. What will likely happen in the long run?
◦ In the long, run the industry will expand because firms are earning economic profits.
◦ In the long, run the industry will contract because firms are suffering losses.
◦ The size of the industry will remain the same in the long run.
◦ The typical firm would shut down, until the remaining firms have a higher price.
◦ There is not enough information to formulate an answer.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by tyratatyanna on Oct 12, 2022

dianagarcia

  • Full Member
  • ***
  • Posts: 189
Reply #1 on: Oct 12, 2022
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 50% of students answer this correctly


tyratatyanna

  • Member
  • Posts: 137
Reply 2 on: Oct 12, 2022
:D TYSM

daiying98

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

A typical pop tester used to check the spray pattern of a diesel engine injector. A typical pop tester used to check the spray pattern of a diesel engine injector.
Typical secondary ignition pattern. Note the lack of firing lines on superimposed pattern. Typical secondary ignition pattern. Note the lack of firing lines on superimposed pattern.
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
Competitive firms and maximization Competitive firms and maximization
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Typical vein patterns in eudicot and monocot leaves Typical vein patterns in eudicot and monocot leaves
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library