« previous next »

Author Question: In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a ... (Read 146 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
on: Jun 29, 2018
In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a normal profit.
 
  Indicate whether the statement is true or false

Question 2

If a marginal cost pricing rule is imposed on the natural monopoly shown in the figure above, then it will produce
 
  A) 2 million units.
  B) 3 million units.
  C) 4 million units.
  D) 5 million units.


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Marty

  • Hero Member
  • *****
  • Posts: 553
Reply #2 on: Jun 29, 2018
Thank you


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

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?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have
To use a battery charger, make sure the charger is connected to the battery before plugging in the ... To use a battery charger, make sure the charger is connected to the battery before plugging in the ...
Competitive firms and maximization Competitive firms and maximization
To make a 3.00 m solution, one could take 3.00 moles of solute and add To make a 3.00 m solution, one could take 3.00 moles of solute and add
economic question economic question
economic question (having trouble) economic question (having trouble)
Video: Protein digestion - stomach & small intestine

For a complete list of videos, visit our video library