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

Author Question: In both perfect competition and monopoly, a firm: a. maximizes profit by equating marginal revenue ... (Read 59 times)

jjjetplane

  • Hero Member
  • *****
  • Posts: 556
on: Jun 30, 2018
In both perfect competition and monopoly, a firm:
 a. maximizes profit by equating marginal revenue to marginal cost.
 b. will shut down in the short run if price is less than average variable cost.
  c. will always earn a zero economic profit.
 d. will be characterized by both (a) and (b).

Question 2

When dealing with strategic trade policy, one practical problem for government is the likelihood of retaliation by foreign governments.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

pikon

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


jjjetplane

  • Member
  • Posts: 556
Reply 2 on: Jun 30, 2018
:D TYSM

Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

The different types of competition in nature. The different types of competition in nature.
The frequency of competition according to the number of species involved. The frequency of competition according to the number of species involved.
A horse and rider in dressage competition at the Olympics A horse and rider in dressage competition at the Olympics
A stallion with a proven competition record is one criterion for being a suitable sire. A stallion with a proven competition record is one criterion for being a suitable sire.
Richard Wrangham’s “female-bonded” theory of intergroup competition was highly influential in our un Richard Wrangham’s “female-bonded” theory of intergroup competition was highly influential in our un
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Introduction to Cystic Fibrosis

For a complete list of videos, visit our video library