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

Author Question: The following diagram shows a perfectly competitive industry and firm. Initial supernormal profits ... (Read 69 times)

bio_gurl

  • Hero Member
  • *****
  • Posts: 524
on: May 25, 2020

Question 1

The following diagram shows a perfectly competitive industry and firm.


The position shown is NOT a long-run equilibrium because
◦ MC > AC.
◦ D = AR.
◦ AR = MR.
◦ AR > AC at Qe.

Question 2

The following diagram shows a perfectly competitive industry and firm. Initial supernormal profits have attracted new firms into the industry.

 
QL represents long-run equilibrium output of the firm because
◦ P1 > PL.
◦ LRAC = ARL.
◦ Se > S1.
◦ D1 > DL.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by bio_gurl on May 25, 2020

ASDFGJLO

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: May 25, 2020
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 29% of students answer this correctly


bio_gurl

  • Member
  • Posts: 524
Reply 2 on: May 25, 2020
Thanks for the timely response, appreciate it

Missbam101

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
Plant Diagram Plant Diagram
Energy Level Diagram of Hydrogen Energy Level Diagram of Hydrogen
Anatomy diagram Anatomy diagram
Find the speed after 40.0 min if the initial speed is 3250 rev/min Find the speed after 40.0 min if the initial speed is 3250 rev/min
Flow cytometry data that shows the differences in CD3+ CD4+ cells that occur with HIV infection. ... Flow cytometry data that shows the differences in CD3+ CD4+ cells that occur with HIV infection. ...
Video: Arthritis

For a complete list of videos, visit our video library