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

Author Question: A perfectly competitive firm has a horizontal supply curve in the short run. a. True b. ... (Read 61 times)

jenna1

  • Hero Member
  • *****
  • Posts: 568
on: Jun 30, 2018
A perfectly competitive firm has a horizontal supply curve in the short run.
 a. True
  b. False

Question 2

Which of the following is true in both perfect competition and monopoly?
 a. Firms produce a differentiated product.
  b. Firms cannot earn economic profit in the long run.
  c. Individual firms have no ability to control the price of their output but must accept the market price.
  d. Firms go out of business in the long run if total revenue cannot cover total cost.
  e. Firms can earn economic profit in the long run.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chinwesucks

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

D


jenna1

  • Member
  • Posts: 568
Reply 2 on: Jun 30, 2018
Gracias!

milbourne11

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Survivorship curve for the North American beaver. Survivorship curve for the North American beaver.
A theoretical photosynthetic response curve. A theoretical photosynthetic response curve.
Coronary circulation. (A) Coronary vessels portraying the complexity and extent of the coronary circ Coronary circulation. (A) Coronary vessels portraying the complexity and extent of the coronary circ
The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ... Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
A 600-kg car is going around a curve with a radius of 120 m that is banked at an angle of 20° ... A 600-kg car is going around a curve with a radius of 120 m that is banked at an angle of 20° ...
Video: Parkinson's Disease

For a complete list of videos, visit our video library