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Author Question: The graph on the left shows the short-run cost curves for a firm in a perfectly competitive market. ... (Read 51 times)

kmoyer2

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on: Oct 12, 2022

Question 1

The graph shows average and marginal cost curves for a typical firm in a perfectly competitive industry in long-run equilibrium.



FIGURE 9-10

Refer to Figure 9-10. In long-run equilibrium, the firm will earn an economic profit of


◦ $0.
◦ $4500.
◦ between $0 and $4500.
◦ between $4500 and $17 500.
◦ more than $17 500.

Question 2

The graph on the left shows the short-run cost curves for a firm in a perfectly competitive market. The graph on the right shows the current market conditions in this industry.



FIGURE 9-7

Refer to Figure 9-7. What do you expect to happen in the long-run?


◦ Market supply will decrease.
◦ Market price will decrease.
◦ The firm's profit will decrease.
◦ both A and B
◦ both B and C
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kmoyer2 on Oct 12, 2022

ahardin89

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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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kmoyer2

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

connor417

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

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