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Author Question: What is the short-run breakeven point of operation in a perfectly competitive ... (Read 67 times)

jwb375

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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


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b614102004

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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

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Reply #2 on: Jun 30, 2018
Correct answers!


b614102004

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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