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

Author Question: The diagram below shows the short-run cost curves for 3 perfectly competitive firms in the same ... (Read 28 times)

awgagawg

  • Full Member
  • ***
  • Posts: 144
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

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

gcurrens

  • Full Member
  • ***
  • Posts: 170
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 29% of students answer this correctly


awgagawg

  • Member
  • Posts: 144
Reply 2 on: Oct 12, 2022
:D TYSM

lindahyatt42

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

« previous next »
 

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Diagram of a cell nucleus Diagram of a cell nucleus
Bacteria Diagram Bacteria Diagram
Cooperative vs. noncooperative O2-binding curves Cooperative vs. noncooperative O2-binding curves
Diagram of the cross section of an axoneme Diagram of the cross section of an axoneme
The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ... The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ...
Survivorship curves. Blue lines are theoretical curves. Red dots are data from field studies. Survivorship curves. Blue lines are theoretical curves. Red dots are data from field studies.
Video: Kidney Stones

For a complete list of videos, visit our video library