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Author Question: In both perfect competition and monopoly, a firm: a. maximizes profit by equating marginal revenue ... (Read 65 times)

jjjetplane

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on: Jun 30, 2018
In both perfect competition and monopoly, a firm:
 a. maximizes profit by equating marginal revenue to marginal cost.
 b. will shut down in the short run if price is less than average variable cost.
  c. will always earn a zero economic profit.
 d. will be characterized by both (a) and (b).

Question 2

When dealing with strategic trade policy, one practical problem for government is the likelihood of retaliation by foreign governments.
 a. True
  b. False
  Indicate whether the statement is true or false


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pikon

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


jjjetplane

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

kthug

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Reply 3 on: Yesterday
Wow, this really help

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