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

Author Question: Is there any similarity between a perfectly competitive firm and a monopolistically competitive firm ... (Read 108 times)

SO00

  • Hero Member
  • *****
  • Posts: 568
on: Jun 29, 2018
Is there any similarity between a perfectly competitive firm and a monopolistically competitive firm in the long run? Explain your answer.
 
  What will be an ideal response?

Question 2

If a technological advance takes place in the computer industry, then the equilibrium price of a computer will ________ and the equilibrium quantity will ________.
 
  A) fall; increase
  B) fall; decrease
  C) rise; increase
  D) rise; decrease


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lucas dlamini

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 29, 2018
Answer to Question 1

Both a perfectly competitive firm and a monopolistically competitive firm earn zero economic profits in the long run.

Answer to Question 2

A


SO00

  • Member
  • Posts: 568
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Non-competitive inhibition Non-competitive inhibition
Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
The striking structural similarity between the translocation factor EF-G (right) and the ternary The striking structural similarity between the translocation factor EF-G (right) and the ternary
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
Gestalt Principle: Similarity Gestalt Principle: Similarity
Video: Stroke volume - afterload definition & hypertension

For a complete list of videos, visit our video library