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Author Question: Since the firm in the above figure is operating in a monopolistically competitive industry, in the ... (Read 135 times)

mp14

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on: Jun 29, 2018
Since the firm in the above figure is operating in a monopolistically competitive industry, in the long run we can expect to see
 
  A) the typical firm's economic profits expand as production becomes more efficient.
  B) more firms entering the industry until economic profits are zero.
  C) the typical firm producing at the minimum point on its ATC curve.
  D) each firm expand its share of the total market.

Question 2

The long-run aggregate supply curve is vertical at 10 trillion, but the short-run aggregate supply curve intersects the aggregate demand curve at 12 trillion. From this, we know that
 
  A) the economy is operating below full capacity in the short run, and will have to adjust by hiring more workers, thus reducing unemployment.
  B) the price level is too high. The only way long-run equilibrium can be restored is to lower the price level.
  C) adjustments will have to occur so that the long-run aggregate supply equals 12 trillion.
  D) adjustments will have to occur so that the short-run aggregate supply intersects the aggregate demand curve at 10 trillion.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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heinisk01

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Reply #1 on: Jun 29, 2018
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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mp14

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

connor417

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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