« previous next »

Author Question: In the long run, economic profits are: a. possible both for a monopolist and for a perfectly ... (Read 42 times)

mckennatimberlake

  • Hero Member
  • *****
  • Posts: 559
on: Jun 30, 2018
In the long run, economic profits are:
 a. possible both for a monopolist and for a perfectly competitive firm.
  b. possible for a monopolist but not for a perfectly competitive firm.
  c. possible for a perfectly competitive firms but not for a monopolist.
  d. impossible for both a monopolist and for a perfectly competitive firm.

Question 2

When the world price of the traded good is lower than the domestic no-trade equilibrium price, free trade causes domestic production to fall and domestic consumption to rise.
 a. True
  b. False
  Indicate whether the statement is true or false


xoxo123

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
Having a time zone map located near the telephone will assist you when making long distance calls ou Having a time zone map located near the telephone will assist you when making long distance calls ou
Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ... Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ...
Clear the thigh with long strokes. Start superior to the patella; place your full flat hand and ... Clear the thigh with long strokes. Start superior to the patella; place your full flat hand and ...
The Economic Way of Thinking The Economic Way of Thinking
economic question economic question
Video: Digestive chemicals - types & enzymes

For a complete list of videos, visit our video library