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

Author Question: Does a competitive long-run equilibrium require cost-minimization? A) Yes, if firms fail to be as ... (Read 38 times)

Brittanyd9008

  • Hero Member
  • *****
  • Posts: 500
on: Jul 1, 2018
Does a competitive long-run equilibrium require cost-minimization?
 
  A) Yes, if firms fail to be as efficient as their competitors, they are driven out of the market.
  B) No, in the long run, firms make zero profits.
  C) Yes, if they didn't, even less efficient firms would enter the industry.
  D) No, because competition ensures their survival.

Question 2

Suppose a farmer in a perfectly competitive agricultural industry rents land that is uniquely productive in the production of a certain crop. In the long run,
 
  A) the owner of the land receives economic rent while the farmer earns zero economic profit.
  B) the owner of the land earns zero economic profit while the farmer receives economic rent.
  C) both the farmer and the owner of the land receive economic rent.
  D) neither the farmer nor the owner of the land receive economic rent.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vkodali

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 45% of students answer this correctly


Brittanyd9008

  • Member
  • Posts: 500
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes. Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes.
Acute exacerbations of asthma can require management in the emergency department. The child is place Acute exacerbations of asthma can require management in the emergency department. The child is place
Competitive inhibition Competitive inhibition
A pleasant smile can go a long way, even through telephone lines. A pleasant smile can go a long way, even through telephone lines.
Use palms and fingers to brush off along the back of the body from shoulders to feet with long ... Use palms and fingers to brush off along the back of the body from shoulders to feet with long ...
When a 2.75-kg fan, having blades 18.5 cm long, is turned off, its angular speed decreases ... When a 2.75-kg fan, having blades 18.5 cm long, is turned off, its angular speed decreases ...
Video: Acid-base imbalances - compensation of respiratory acidosis and alkalosis

For a complete list of videos, visit our video library