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Author Question: In the short run, a perfectly competitive firm NEVER A) earns an economic profit. B) incurs a ... (Read 154 times)

mynx

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  • Posts: 555
on: Jun 29, 2018
In the short run, a perfectly competitive firm NEVER
 
  A) earns an economic profit.
  B) incurs a loss greater than its total fixed costs.
  C) produces where MR = MC.
  D) earns a normal profit.

Question 2

One difference between perfect competition and monopolistic competition is that
 
  A) a perfectly competitive industry has fewer firms.
  B) in perfect competition, firms produce slightly differentiated products.
  C) monopolistic competition has barriers to entry.
  D) firms in monopolistic competition face a downward-sloping demand curve.


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iceage

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


mynx

  • Member
  • Posts: 555
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

dawsa925

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  • Posts: 326
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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