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

Author Question: What is the short-run breakeven point of operation in a perfectly competitive ... (Read 71 times)

jwb375

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
What is the short-run breakeven point of operation in a perfectly competitive market?

Question 2

For a farmer, the long-run would be the current growing season, where she can vary the amount of irrigation, pesticides, and fertilizer on a fixed number of acres planted.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

b614102004

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 30, 2018
Answer to Question 1

In a perfectly competitive market, a producer breaks even in the short-run at the point where price equals the average cost and the marginal cost. This is known as the breakeven point of operation.

Answer to Question 2

False


jwb375

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jun 30, 2018
Correct answers!


b614102004

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Competitive inhibition Competitive inhibition
Non-competitive inhibition Non-competitive inhibition
Your Culture and Your Point of View Your Culture and Your Point of View
A 6-point socket fits the head of a bolt or nut on all sides. A 12-point socket can round off the ... A 6-point socket fits the head of a bolt or nut on all sides. A 12-point socket can round off the ...
Answer the following short answer, please show your steps and include the formulas used Answer the following short answer, please show your steps and include the formulas used
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Video: Muscular System Animation

For a complete list of videos, visit our video library