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

Author Question: If P= MCand MC< ATC, then a perfectly competitive firm will earn ________ profits. (Read 67 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
on: Apr 19, 2019

Question 1

A perfectly competitive firm ________ at the level of output where 
P = 
ATC.


◦ earns an economic profit
◦ suffers an economic loss
◦ breaks even
◦ shuts down

Question 2

If 
P = 
MC and 
MC <
ATC, then a perfectly competitive firm will earn ________ profits.


◦ positive
◦ zero
◦ negative
◦ break-even
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jon_i on Apr 19, 2019

aliotak

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Apr 19, 2019
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 56% of students answer this correctly


jon_i

  • Hero Member
  • *****
  • Posts: 549
Reply #2 on: Apr 19, 2019
Excellent


aliotak

  • Sr. Member
  • ****
  • Posts: 326
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

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

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Competitive inhibition Competitive inhibition
Competitive inhibitor Competitive inhibitor
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Video: Cataract

For a complete list of videos, visit our video library