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Author Question: In the long run, a perfectly competitive firm can make an economic profit because its marginal cost ... (Read 112 times)

809779

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on: Jun 29, 2018
In the long run, a perfectly competitive firm can make an economic profit because its marginal cost equals its average total cost.
 
  Indicate whether the statement is true or false

Question 2

What does the slope of the budget line equal?
 
  What will be an ideal response?


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anoriega3

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Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

The slope of the budget line equals an opportunity cost. It is the same as the opportunity cost of the good measured along the x-axis. It also equals a relative price. In particular, it is the same as the relative price of the good measured along the x-axis.


809779

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ktidd

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Reply 3 on: Yesterday
:D TYSM

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