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

Author Question: Which of the following is ALWAYS true for a perfectly competitive firm? A) P = MR B) P = ATC C) ... (Read 30 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
on: Jun 29, 2018
Which of the following is ALWAYS true for a perfectly competitive firm?
 
  A) P = MR
  B) P = ATC
  C) MR = ATC
  D) P = AVC

Question 2

If the market for roller blades is at a competitive equilibrium, and there are no external costs or benefits, then
 
  A) marginal social benefit is equal to marginal social cost.
  B) the sum of consumer surplus and producer surplus is maximized.
  C) resources are being used efficiently.
  D) All of the above answers are correct.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jasonq

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


tichca

  • Hero Member
  • *****
  • Posts: 554
Reply #2 on: Jun 29, 2018
Thank you :)


jasonq

  • Sr. Member
  • ****
  • Posts: 335
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

TrUe....FaLsE TrUe....FaLsE
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
True Dover Sole True Dover Sole
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Competitive firms and maximization Competitive firms and maximization
Video: Phases of mitosis

For a complete list of videos, visit our video library