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

Author Question: If a monopolistically competitive industry is in long-run equilibrium, then for each firm (Read 58 times)

hgjjghgjh

  • Full Member
  • ***
  • Posts: 132
on: Oct 12, 2022

Question 1

In long-run equilibrium, a monopolistically competitive industry operates where
◦ MR > MC.
◦ LRAC > minimum average cost.
◦ LRAC = MC.
◦ LRAC is increasing.
◦ P > LRAC.

Question 2

If a monopolistically competitive industry is in long-run equilibrium, then for each firm
◦ price equals MC at the minimum level of the firm's LRAC curve.
◦ the demand curve is tangent to its LRAC curve.
◦ the demand curve cuts the MC curve at the minimum level of the LRAC curve.
◦ the MC curve intersects MR at the minimum level of its LRAC curve.
◦ positive profits are being earned.
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 hgjjghgjh on Oct 12, 2022

wangyichun

  • Full Member
  • ***
  • Posts: 179
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 56% of students answer this correctly


hgjjghgjh

  • Member
  • Posts: 132
Reply 2 on: Oct 12, 2022
Wow, this really help

flexer1n1

  • Member
  • Posts: 373
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Cyanide works by making the human body unable to use oxygen.

The rate of evolution in short­ and long­lived plants The rate of evolution in short­ and long­lived plants
Othmer’s Equilibrium Still Schematic Diagram Othmer’s Equilibrium Still Schematic Diagram
Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ... Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ...
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
Video: Endocytosis - pinocytosis, receptor mediated and Transcytosis

For a complete list of videos, visit our video library