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 38 times)

dongbo

  • 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 = $5000; output = 1 million units; ATC = $5300; AVC = $4750. 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.
◦ Consumers will avoid this industry because firms are suffering losses.
◦ 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 dongbo on Oct 12, 2022

Nutellas_Good

  • Full Member
  • ***
  • Posts: 156
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


dongbo

  • Member
  • Posts: 137
Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

jordangronback

  • Member
  • Posts: 339
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

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?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Extent of agricultural activity across the planet (data from Foley et al. 2005). Extent of agricultural activity across the planet (data from Foley et al. 2005).
Recommended vs. Typical Diet Recommended vs. Typical Diet
A typical joint. A typical joint.
Coolant flow through a typical engine cooling system. Coolant flow through a typical engine cooling system.
Typical port fuel-injection system, indicating the location of various components. Notice that the ... Typical port fuel-injection system, indicating the location of various components. Notice that the ...
Typical Reverse Osmosis Filter Setup Typical Reverse Osmosis Filter Setup
Video: Hormonal feedback loop components

For a complete list of videos, visit our video library