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Author Question: Based on the data in the table above, the efficient level of output equals A) 550 units. B) 600 ... (Read 50 times)

K@

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on: Jun 29, 2018
Based on the data in the table above, the efficient level of output equals
 
  A) 550 units.
  B) 600 units.
  C) 650 units.
  D) 700 units.

Question 2

If a perfectly competitive market is in long-run equilibrium and there is a permanent decrease in demand, then
 
  A) some firms will incur economic losses.
  B) firms are no longer maximizing profits.
  C) some firms must immediately exit.
  D) each firm must produce less output in the new long run equilibrium and earn less economic profit.


dellikani2015

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

B

Answer to Question 2

A


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K@

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Reply #2 on: Jun 29, 2018
Correct answers!


dellikani2015

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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