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

Author Question: Which of the following is true in long-run equilibrium for both perfect competition and monopolistic ... (Read 118 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
Which of the following is true in long-run equilibrium for both perfect competition and monopolistic competition?
 a. Accounting profit is zero.
  b. Marginal cost equals price.
  c. Long-run average cost is at a minimum.
  d. Economic profit is zero.

Question 2

Indifference curve analysis is based on a mythical unit called a util.
 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

Natalie4ever

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

d

Answer to Question 2

True


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

amcvicar

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

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.

Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen Competition can be (a) direct, or (b) indirect interaction among individuals of the same or differen
Apply the body wrap substance to the back with long, smooth strokes, covering the area thoroughly. Apply the body wrap substance to the back with long, smooth strokes, covering the area thoroughly.
Clear the lower leg with long strokes. Start proximal to the ankle, and stroke to the knee and ... Clear the lower leg with long strokes. Start proximal to the ankle, and stroke to the knee and ...
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
What will be the pH of the solution once equilibrium is established? What will be the pH of the solution once equilibrium is established?
Video: How a Urinalysis is Performed

For a complete list of videos, visit our video library