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

Author Question: Since the firm in the above figure is operating in a monopolistically competitive industry, in the ... (Read 174 times)

mp14

  • Hero Member
  • *****
  • Posts: 534
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

heinisk01

  • Sr. Member
  • ****
  • Posts: 329
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.
Answer Preview
Only 50% of students answer this correctly


mp14

  • Member
  • Posts: 534
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and
The Acheulean industry is typified by hand axes and cleavers. The Acheulean industry is typified by hand axes and cleavers.
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Nanomaterials Applications and Industry Used Nanomaterials Applications and Industry Used
What is the current in Figure 16-1(b) if the diode is made of silicon and the polarity of the ... What is the current in Figure 16-1(b) if the diode is made of silicon and the polarity of the ...
Video: Phases of mitosis

For a complete list of videos, visit our video library