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

Author Question: A perfectly competitive firm is more likely to shut down during a recession, when the demand for its ... (Read 79 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
A perfectly competitive firm is more likely to shut down during a recession, when the demand for its product declines, than during an economic expansion, because during the recession it might be unable to cover its
 
  A) fixed costs.
  B) variable costs.
  C) external costs.
  D) depreciation due to machinery becoming obsolete.

Question 2

If Katie purchases two slices of pizza and six breadsticks to maximize her total utility, then
 
  A) a slice of pizza costs three times as much as a breadstick.
  B) a breadstick costs three times as much as a slice of pizza.
  C) her marginal utility from the second slice of pizza divided by the price of a slice of pizza is equal to her marginal utility from the sixth breadstick divided by the price of a breadstick.
  D) Both answers A and C are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

essyface1

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


Kthamas

  • Hero Member
  • *****
  • Posts: 546
Reply #2 on: Jun 29, 2018
Thank you


essyface1

  • Sr. Member
  • ****
  • Posts: 347
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
The original Supply and Demand graph The original Supply and Demand graph
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Competitive firms and maximization Competitive firms and maximization
Video: Electrical Conduction System of the Heart

For a complete list of videos, visit our video library