« previous next »

Author Question: In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a ... (Read 120 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
on: Jun 29, 2018
In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a normal profit.
 
  Indicate whether the statement is true or false

Question 2

If a marginal cost pricing rule is imposed on the natural monopoly shown in the figure above, then it will produce
 
  A) 2 million units.
  B) 3 million units.
  C) 4 million units.
  D) 5 million units.


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Marty

  • Hero Member
  • *****
  • Posts: 553
Reply #2 on: Jun 29, 2018
Thank you


Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Gross Anatomy of a Long Bone Gross Anatomy of a Long Bone
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
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 ...
economic question economic question
economic question economic question
Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere
Video: Structures that affect circulation - heart and MABP

For a complete list of videos, visit our video library