Author Question: In a perfectly competitive industry, in the long-run equilibrium A) the typical firm is producing ... (Read 85 times)

Cooldude101

  • Hero Member
  • *****
  • Posts: 557
In a perfectly competitive industry, in the long-run equilibrium
 
  A) the typical firm is producing at the output where its long-run average total cost is not minimized.
  B) the typical firm is earning an accounting profit greater than its implicit costs.
  C) the typical firm is maximizing its revenue.
  D) the typical firm earns zero profit.

Question 2

Suppose that real GDP for 2015 was 10,000 billion and real GDP for 2016 was 11,000 billion. What is the rate of growth of real GDP between 2015 and 2016?
 
  A) 1 B) 2 C) 5 D) 10


kingdude89

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

D

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

For a complete list of videos, visit our video library