« previous next »

Author Question: In long-run equilibrium, a perfectly competitive firm produces the output level that minimizes ... (Read 38 times)

pepyto

  • Hero Member
  • *****
  • Posts: 547
on: Jun 30, 2018
In long-run equilibrium, a perfectly competitive firm produces the output level that minimizes average total cost.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The market's role is to ensure that nonrenewable resources are allocated across time to where they are most highly valued. This implies, if more is used today then:
 a. the future supply curve shifts downward.
  b. financial investments offer a lower rate of return.
  c. the return on saving the resource for future use rises.
  d. the expected demand for the resource in the future is low.
  e. technological advancement will guarantee a steady future supply.


olivia_paige29

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

The roles of transpiration, cohesion, adhesion, and tension in long-distance water transport. The roles of transpiration, cohesion, adhesion, and tension in long-distance water transport.
The level in the coolant recovery system raises and lowers with engine temperature. The level in the coolant recovery system raises and lowers with engine temperature.
How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.) How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.)
A substrate and its competitive inhibitor A substrate and its competitive inhibitor
Share of Hours Worked by Education Level, 1940–2008 Share of Hours Worked by Education Level, 1940–2008
A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di A horizontal, 2.00 m long, 3.00 kg uniform beam that lies along the east-west di
Video: Ear Virtual Tour Animation

For a complete list of videos, visit our video library