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 62 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?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

A true albino squirrel. Note the pink eyes. A true albino squirrel. Note the pink eyes.
True Friendship True Friendship
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ... Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
Greet a First-Time Client With a Firm Handshake. Greet a First-Time Client With a Firm Handshake.
Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ... Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ...
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Video: Dietary Cholesterol & LDL

For a complete list of videos, visit our video library