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

Author Question: Long-run equilibrium in a perfectly competitive industry is characterized by (Read 123 times)

BSITTON

  • Full Member
  • ***
  • Posts: 150
on: Oct 12, 2022

Question 1

The price elasticity of demand faced by an individual wheat farmer would come closest to which following value?
◦ 71 000
◦ 71.0
◦ 1.0
◦ 0.00007
◦ 0.7

Question 2

Long-run equilibrium in a perfectly competitive industry is characterized by
◦ falling costs.
◦ each firm producing at the minimum point on its LRAC curve.
◦ rising costs.
◦ internal economies of scale.
◦ an output level at which firms' SRATC curves are tangent to the downward sloping portion of their LRAC curves.
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 BSITTON on Oct 12, 2022

viper01

  • Full Member
  • ***
  • Posts: 160
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 44% of students answer this correctly


BSITTON

  • Member
  • Posts: 150
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

Dominic

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Overview of material uptake and long-distance transport processes in plants Overview of material uptake and long-distance transport processes in plants
bio industry bio industry
Long-range forecasts Long-range forecasts
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ... Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
The impact of industry and manufacturing on our life The impact of industry and manufacturing on our life
Perform the indicated division (long division polynomials) Perform the indicated division (long division polynomials)
Video: Rena arc construction

For a complete list of videos, visit our video library