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Author Question: Under long-run perfect competition, which of the following are the same (equal) at all levels of ... (Read 15 times)

D2AR0N

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on: Jun 30, 2018
Under long-run perfect competition, which of the following are the same (equal) at all levels of output?
 a. Price and marginal cost.
  b. Price and marginal revenue.
  c. Marginal cost and marginal revenue.
  d. All of these.

Question 2

In response to a price change for good Y, if the cross-elasticity of demand for good Y is positive, good X and good Y are complements.
 a. True
  b. False
  Indicate whether the statement is true or false


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jessofishing

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

False


D2AR0N

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Reply #2 on: Jun 30, 2018
Thank you :)


jessofishing

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Reply #3 on: Jun 30, 2018
Happy to help you


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