This topic contains a solution. Click here to go to the answer

Author Question: When a perfectly competitive firm is in long-run equilibrium, what is the relationship between the ... (Read 77 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
When a perfectly competitive firm is in long-run equilibrium, what is the relationship between the firm's marginal cost, average total cost, marginal revenue, and price?
 
  What will be an ideal response?

Question 2

When a firm is experiencing diseconomies of scale
 
  A) the MP curve has a negative slope.
  B) the LRAC curve has a positive slope.
  C) it must also experience diminishing returns to labor.
  D) the MC curve has a negative slope.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anoriega3

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

Marginal cost and average total cost equal the market price, which is also the marginal revenue.

Answer to Question 2

B




rlane42

  • Member
  • Posts: 594
Reply 2 on: Jun 29, 2018
Excellent


ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

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.

For a complete list of videos, visit our video library