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

Author Question: Which of the following accurately describes a major difference between a monopolist and firms in ... (Read 67 times)

javeds

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
Which of the following accurately describes a major difference between a monopolist and firms in perfectly competitive markets?
 a. The monopolist maximizes profit; firms in perfectly competitive markets maximize sales.
 b. The monopolist may earn long-run economic profit; firms in perfectly competitive markets cannot.
  c. The monopolist is a price taker; firms in other markets are price searchers.
 d. The monopolist may earn short-run profit; firms in perfectly competitive markets cannot.

Question 2

A firm's cost can decrease for each of the following reasons, EXCEPT:
 a. an increase in productivity due to experience.
  b. an improvement in productivity of capital employed.
  c. an improvement in work environment and quality of management.
  d. an increase in input prices.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

frejo

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

D


javeds

  • Member
  • Posts: 570
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

On average, the ratio of carbon to nitrogen is much higher in terrestrial plants than in other major On average, the ratio of carbon to nitrogen is much higher in terrestrial plants than in other major
“Mission Accomplished” proclaimed the banner on the USS Abraham Lincoln, where on May 1, 2003, Presi “Mission Accomplished” proclaimed the banner on the USS Abraham Lincoln, where on May 1, 2003, Presi
Probability of Major Depression as a Function of 5-HTT Allele and Levels of Maltreatment ... Probability of Major Depression as a Function of 5-HTT Allele and Levels of Maltreatment ...
Standard reduction potentials of the major respiratory electron carriers Standard reduction potentials of the major respiratory electron carriers
Major Topographic Divisions of the North Atlantic Ocean Major Topographic Divisions of the North Atlantic Ocean
Major features of human genome Major features of human genome
Video: Anatomy and Chemical Makeup of a Single Hair (Animation)

For a complete list of videos, visit our video library