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 27 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
Excellent

Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually
Non-competitive inhibition Non-competitive inhibition
Oxygen dissociation curve Oxygen dissociation curve
Homeschooling has come a long way. These children are performing in a musical at the annual ... Homeschooling has come a long way. These children are performing in a musical at the annual ...
Clear the thigh with long strokes. Start superior to the patella; place your full flat hand and ... Clear the thigh with long strokes. Start superior to the patella; place your full flat hand and ...
Stock Market Tracks Growth in GDP Stock Market Tracks Growth in GDP
Video: Griffith's experiments

For a complete list of videos, visit our video library