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

Author Question: Which of the following statements about the short run and long run is true? A) The number of ... (Read 69 times)

futuristic

  • Hero Member
  • *****
  • Posts: 638
on: Jun 29, 2018
Which of the following statements about the short run and long run is true?
 
  A) The number of firms in the industry is fixed in the short run, but in the long run the number can change.
  B) Free entry and exit of firms is possible in the short run, but entry and exit of firms is restricted in the long run.
  C) The short-run average cost curves lies below the long-run average cost curves.
  D) A firm can vary all of its factors of production in both the short run and the long run.

Question 2

Zero economic profits would most likely exist in which market environment?
 
  A) Pure monopoly
  B) Oligopoly
  C) Perfect competition
  D) Any market structure riddled with uncertainty
  E) None of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

akemokai

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


futuristic

  • Member
  • Posts: 638
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

scottmt

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
Isotopes may be stable or radioactive depending on the arrangement and number of neutrons in the nuc Isotopes may be stable or radioactive depending on the arrangement and number of neutrons in the nuc
Major Categories of Long-Term Memory Major Categories of Long-Term Memory
Long-term relationships, especially those who are married, having a child Long-term relationships, especially those who are married, having a child
When dry, the long fruits (pods) of the California poppy (Eschscholzia californica) split open sudde When dry, the long fruits (pods) of the California poppy (Eschscholzia californica) split open sudde
Number chart Number chart
Video: Premenstrual Syndrome

For a complete list of videos, visit our video library