« previous next »

Author Question: Which of the following is a characteristic of monopoly in the long run? A) The firm makes zero ... (Read 94 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
on: Jun 29, 2018
Which of the following is a characteristic of monopoly in the long run?
 
  A) The firm makes zero economic profit.
  B) The firm can make an economic profit.
  C) Price equals marginal cost.
  D) Price equals marginal revenue.

Question 2

Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is 5 and the wage rate is 62.50 per day, how many workers should Winnie employ to maximize his profit?
 
  A) 2
  B) 3
  C) 4
  D) 5


cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

nramada

  • Hero Member
  • *****
  • Posts: 580
Reply #2 on: Jun 29, 2018
Thank you


cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Levels of Processing Affects Long-Term but not Short-Term Memory Levels of Processing Affects Long-Term but not Short-Term Memory
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
These findings are from Colby and Kohlberg's long-term longitudinal study These findings are from Colby and Kohlberg's long-term longitudinal study
An 82-kg painter stands on a long horizontal board 1.55 m from one end. This 27-kg board is ... An 82-kg painter stands on a long horizontal board 1.55 m from one end. This 27-kg board is ...
How body makes blood flow more into brain instead of foot? How body makes blood flow more into brain instead of foot?
Video: Hormonal regulation of pregnancy - weeks 17 through 38

For a complete list of videos, visit our video library