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Author Question: If a perfectly competitive firm is operating in long-run equilibrium and market demand suddenly ... (Read 85 times)

dejastew

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  • Posts: 562
on: Jun 30, 2018
If a perfectly competitive firm is operating in long-run equilibrium and market demand suddenly falls, the short-run result will be
 a. greater economic profit
  b. a normal profit
  c. lower average total cost
  d. lower average variable cost
  e. an economic loss

Question 2

A monopolist price discriminates by
 a. charging different buyers different prices for different products
  b. charging different buyers different prices for the same product
  c. selling at a price below average total cost
  d. selling at a price below marginal cost
  e. selling at a price above marginal revenue


Expo

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

E

Answer to Question 2

B


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