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Author Question: For the following, please answer "True" or "False" and explain why.The long-run supply curve in a ... (Read 59 times)

joblessjake

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on: Mar 14, 2021

Question 1

Which of the following statements about profit maximizing firms in a competitive market is FALSE?
◦ Firms earn no economic profit in the long run.
◦ Marginal revenue does not have to equal marginal cost.
◦ p - MC = 0.
◦ Price equals marginal revenue.

Question 2

For the following, please answer "True" or "False" and explain why.


The long-run supply curve in a competitive market is upward-sloping.
Managerial Economics and Strategy ¦ Perloff, Brander ¦ 3rd Edition
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Marked as best answer by joblessjake on Mar 14, 2021

Benayers

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Reply #1 on: Mar 14, 2021
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.
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joblessjake

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Reply 2 on: Mar 14, 2021
Thanks for the timely response, appreciate it

Chelseyj.hasty

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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