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

Author Question: A perfectly competitive firm maximizes its profit by producing the level of output so that its ... (Read 130 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
A perfectly competitive firm maximizes its profit by producing the level of output so that its average total cost equals the market price.
 
  Indicate whether the statement is true or false

Question 2

Which of the following statements regarding an average-cost pricing rule for a natural monopoly is WRONG?
 
  A) It sets price equal to average total cost.
  B) It is efficient.
  C) The firm makes zero economic profit.
  D) More output is produced than if the firm maximized profit.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

soda0602

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

B


moongchi

  • Member
  • Posts: 516
Reply 2 on: Jun 29, 2018
Excellent

Laurenleakan

  • Member
  • Posts: 309
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Level II HCPCs Codes Level II HCPCs Codes
A typical accelerator pedal position (APP) sensor, showing two different output voltage signals ... A typical accelerator pedal position (APP) sensor, showing two different output voltage signals ...
Higher-Level Thinking Skills Used in Massage Therapy Higher-Level Thinking Skills Used in Massage Therapy
Firm handshake Firm handshake
Sea-Level Pressure Sea-Level Pressure
Intraaortic balloon pump. The balloon deflates during systole, so cardiac output is unimpeded. Intraaortic balloon pump. The balloon deflates during systole, so cardiac output is unimpeded.
Video: Lipid catabolism - lipolysis and beta oxidation and oxidation of fatty acids

For a complete list of videos, visit our video library