« previous next »

Author Question: In the long-run equilibrium, perfectly competitive firms produce where A) marginal cost is ... (Read 81 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
In the long-run equilibrium, perfectly competitive firms produce where
 
  A) marginal cost is minimized.
  B) average total cost is minimized.
  C) average revenue is zero.
  D) All of the above are correct.

Question 2

If Taco Bell determines that the demand for its food is elastic, Taco Bell should raise its price to increase its total revenue.
 
  Indicate whether the statement is true or false


jomama

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

FALSE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Bururi long-fingered frog (Cardioglossa cyaneospila) Bururi long-fingered frog (Cardioglossa cyaneospila)
A model of anxiety in which stressful events or a changing mental condition can produce unfavorable A model of anxiety in which stressful events or a changing mental condition can produce unfavorable
These findings are from Colby and Kohlberg's long-term longitudinal study These findings are from Colby and Kohlberg's long-term longitudinal study
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
I need help fill up the chart attached phtoto long question I need help fill up the chart attached phtoto long question
The Hardy–Weinberg equilibrium for two autosomal alleles. The Hardy–Weinberg equilibrium for two autosomal alleles.
Video: System organization - PPM system types (Somatic, Autonomic & Enteric) and Reflex arc types

For a complete list of videos, visit our video library