This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which statement below is true for a price taker in the long run? A) Net revenue can only be ... (Read 37 times)

s.tung

  • Hero Member
  • *****
  • Posts: 577
on: Jun 29, 2018
Which statement below is true for a price taker in the long run?
 
  A) Net revenue can only be positive.
  B) Net revenue can only be negative.
  C) Net revenue can only be zero.
  D) Net revenue can be positive, negative, or zero.

Question 2

When two firms in a perfectly competitive market seek to maximize profit in the long run, they eventually end up:
 
  A) producing at a suboptimal level.
  B) minimizing total cost of production.
  C) earning the same level of profits.
  D) producing the same level of output.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Sweetkitty24130

  • Sr. Member
  • ****
  • Posts: 291
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


s.tung

  • Member
  • Posts: 577
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

TrUe....FaLsE TrUe....FaLsE
The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Associative Long-Term Potentiation Associative Long-Term Potentiation
Long-Term Potentiation and Long-Term Depression Long-Term Potentiation and Long-Term Depression
Varieties of Long-Term Memory Varieties of Long-Term Memory
Levels of Processing Affects Long-Term but not Short-Term Memory Levels of Processing Affects Long-Term but not Short-Term Memory
Video: Simple Diffusion - Ion transport

For a complete list of videos, visit our video library