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

Author Question: Suppose a typical firm in a competitive industry has the following data in the short run: price = ... (Read 109 times)

Triley39

  • Full Member
  • ***
  • Posts: 145
on: Oct 12, 2022
Suppose a typical firm in a competitive industry has the following data in the short run: price = $10; output = 100 units; ATC = $8; AVC = $7. What will likely happen in the long run?
◦ In the long run, the industry will expand because firms are earning economic profits.
◦ In the long run, the industry will contract because firms are suffering losses.
◦ The size of the industry will remain the same in the long run.
◦ The typical firm would shut down, until the remaining firms have a higher price.
◦ There is not enough information to formulate an answer.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Triley39 on Oct 12, 2022

Hamad

  • Full Member
  • ***
  • Posts: 163
Reply #1 on: Oct 12, 2022
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 50% of students answer this correctly


Triley39

  • Member
  • Posts: 145
Reply 2 on: Oct 12, 2022
Excellent

komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

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.

Typical Soil Profile Typical Soil Profile
A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ... A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ...
A typical handheld cylinder leakage tester. A typical handheld cylinder leakage tester.
A typical zirconia oxygen sensor. A typical zirconia oxygen sensor.
The typical placement of electrodes around the eye for electrooculography. The two electrooculogram ... The typical placement of electrodes around the eye for electrooculography. The two electrooculogram ...
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Video: Hormonal regulation of pregnancy - week 1

For a complete list of videos, visit our video library