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

Author Question: The following diagram shows an industry which if organised competitively with thousands of firms ... (Read 38 times)

jlmhmf

  • Hero Member
  • *****
  • Posts: 552
on: May 25, 2020
The following diagram shows an industry which if organised competitively with thousands of firms will have an industry marginal cost curve of MC1. If it is a monopoly, thanks to economies of scale, it will have the lower MC curve MC2.



Referring to the diagram, which one of the following is correct?
◦ The perfectly competitive price and output are P1 and Q1 and the monopoly price and output are P2 and Q2.
◦ The perfectly competitive price and output are P3 and Q3 and the monopoly price and output are P2 and Q2.
◦ The perfectly competitive price and output are P1 and Q1 and the monopoly price and output are P4 and Q2.
◦ The perfectly competitive price and output are P3 and Q3 and the monopoly price and output are P4 and Q2.
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 jlmhmf on May 25, 2020

karmakat49

  • Sr. Member
  • ****
  • Posts: 369
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


jlmhmf

  • Member
  • Posts: 552
Reply 2 on: May 25, 2020
:D TYSM

nguyenhoanhat

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Sequential decline of whale catches in the Antarctic shows the strong effect of human predators. Sequential decline of whale catches in the Antarctic shows the strong effect of human predators.
A simplified diagram of the Human Ear A simplified diagram of the Human Ear
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
This photo shows a newborn baby minutes after birth. This photo shows a newborn baby minutes after birth.
This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ... This label on a Toyota Camry hybrid shows the relative smog-producing emissions, but this does not ...
Schematic diagram showing polyclonal response by B cells against linear epitopes. Schematic diagram showing polyclonal response by B cells against linear epitopes.
Video: Power Supply Polyacrylamide Gel Protein Sample

For a complete list of videos, visit our video library