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

Author Question: The diagram below shows selected cost and revenue curves for a firm in a monopolistically ... (Read 57 times)

zl00505

  • Full Member
  • ***
  • Posts: 146
on: Oct 12, 2022

The diagram below shows selected cost and revenue curves for a firm in a monopolistically competitive industry.



FIGURE 11-5

Refer to Figure 11-5. How is the excess-capacity theorem demonstrated in this diagram?


◦ In long-run equilibrium, the firm is earning positive profits, but has unexploited economies of scale.
◦ In long-run equilibrium, this firm has excess capacity because they are selling output at a price below their LRAC.
◦ The long-run equilibrium occurs where the firm is producing output at q0, which is less than that corresponding to the lowest point on its LRAC curve.
◦ The long-run equilibrium occurs where the firm is producing output at q1, which is the same as for a perfectly competitive industry.
◦ The short-run equilibrium occurs where the firm is producing output at q0, which is less than that corresponding to the lowest point on its LRAC curve.
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 zl00505 on Oct 12, 2022

khudija

  • Full Member
  • ***
  • Posts: 171
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


zl00505

  • Member
  • Posts: 146
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Diagram of a typical fossil-fueled power plant Diagram of a typical fossil-fueled power plant
Comparison of Selected Respiratory Conditions Comparison of Selected Respiratory Conditions
Bacteria Diagram Bacteria Diagram
A Hertzsprung-Russell Diagram A Hertzsprung-Russell Diagram
Selected Miscellaneous Antibacterials Selected Miscellaneous Antibacterials
Diagram illustrating the difficulty encountered during the replication of the ends of linear chromos Diagram illustrating the difficulty encountered during the replication of the ends of linear chromos
Video: Metabolic Rate, Heat and Thermoregulation - response to heat and cold stresses

For a complete list of videos, visit our video library