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Author Question: The diagram below shows the short-run cost curves for 3 perfectly competitive firms in the same ... (Read 20 times)

awgagawg

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on: Oct 12, 2022

The diagram below shows the short-run cost curves for 3 perfectly competitive firms in the same industry.



FIGURE 9-9

Refer to Figure 9-9. Given that Firms A, B and C are in the same industry, is this industry in long-run equilibrium?


◦ Yes, because each of the 3 firms is operating at its minimum efficient scale.
◦ No, because if the industry were in equilibrium, all 3 firms would be earning zero economic profits.
◦ No, because Firm A is not producing at a profit-maximizing level of output.
◦ Yes, because P = MC = MR for each of the 3 firms.
◦ Yes, because all 3 firms are producing at their minimum average total cost.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by awgagawg on Oct 12, 2022

gcurrens

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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.
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awgagawg

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

vickybb89

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

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