« previous next »

Author Question: In long-run equilibrium, a perfectly competitive firm produces the output level that minimizes ... (Read 59 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?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz
Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr
When young infants hold objects for a long period of time they eventually become habituated to them. When young infants hold objects for a long period of time they eventually become habituated to them.
Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ... Some vehicles use a surge tank, which is located at the highest level of the cooling system, with ...
Share of Hours Worked by Education Level, 1940–2008 Share of Hours Worked by Education Level, 1940–2008
World Mean Sea-Level Temperatures in January World Mean Sea-Level Temperatures in January
Video: Supine Position

For a complete list of videos, visit our video library