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

Author Question: Which of the following statements is not characteristic of a perfectly competitive industry in ... (Read 50 times)

azncindy619

  • Hero Member
  • *****
  • Posts: 562
on: Jun 30, 2018
Which of the following statements is not characteristic of a perfectly competitive industry in long-run equilibrium?Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
 a. A profit-maximizing firm may produce any output level at which P < LRATC.
  b. Every firm produces at an output level at which MC = LRATC.
 c. Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
  d. No firm earns an economic profit.

Question 2

Which of the following is an absolute measure of poverty?
 a. Gini co-efficient
  b. Per capita income
  c. HiLo ratio
  d. Hoover index
  e. Theil index


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


azncindy619

  • Member
  • Posts: 562
Reply 2 on: Jun 30, 2018
:D TYSM

mcabuhat

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

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?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Conjunctivitis, with the characteristic “pinkeye” appearance. A yellow crusty exudate is also common Conjunctivitis, with the characteristic “pinkeye” appearance. A yellow crusty exudate is also common
Non-competitive inhibition Non-competitive inhibition
Ratings of Perceived Contradictions in Political Statements Ratings of Perceived Contradictions in Political Statements
The impact of industry and manufacturing on our life The impact of industry and manufacturing on our life
The hand on the right exhibits the orange-tinged skin characteristic of carotenodermia The hand on the right exhibits the orange-tinged skin characteristic of carotenodermia
The Oil Industry: BOEM iron triangle The Oil Industry: BOEM iron triangle
Video: Krebs cycle : Formation of acetyl coenzyme A and Electron transport chain

For a complete list of videos, visit our video library