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

Author Question: How is the short-run supply curve of a perfectly competitive market different from the long-run ... (Read 50 times)

abern

  • Hero Member
  • *****
  • Posts: 533
on: Jun 30, 2018
How is the short-run supply curve of a perfectly competitive market different from the long-run supply curve?

Question 2

A firm's break-even price is the price that is just equal to the minimum point of the AVC curve, in the short run.
 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

ryrychapman11

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

The short-run market supply curve is upward rising and is positively related to the price level. The long-run supply curve on the other hand is horizontal as economic profits are zero in the long run.

Answer to Question 2

False


abern

  • Member
  • Posts: 533
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

The titration curve of acetic acid The titration curve of acetic acid
Non-competitive inhibition Non-competitive inhibition
Blood PH Curve Hemoglobin Blood PH Curve Hemoglobin
The Light Curve of a Nova The Light Curve of a Nova
The Radioactive Decay Curve The Radioactive Decay Curve
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
Video: Contraction cycle of a sarcomere

For a complete list of videos, visit our video library