This topic contains a solution. Click here to go to the answer

Author Question: Under both perfect competition and monopoly, a firm: a. is a price taker. b. maximizes profit by ... (Read 107 times)

notis

  • Hero Member
  • *****
  • Posts: 596
Under both perfect competition and monopoly, a firm:
 a. is a price taker.
  b. maximizes profit by setting marginal cost equal to marginal revenue.
  c. will shut down in the short-run if price falls short of average total cost.
  d. always earns a pure economic profit.

Question 2

Utils are used by economists to measure the satisfaction a person obtains from consuming a good.
 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

bigcheese9

  • Sr. Member
  • ****
  • Posts: 333
Answer to Question 1

b

Answer to Question 2

True




notis

  • Member
  • Posts: 596
Reply 2 on: Jun 30, 2018
Wow, this really help


mammy1697

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

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?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

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?

Medication errors are three times higher among children and infants than with adults.

For a complete list of videos, visit our video library