Author Question: If a perfectly competitive industry is neither expanding nor contracting, we would typically expect ... (Read 11 times)

lilldybug07 · **on:** Jun 30, 2018

If a perfectly competitive industry is neither expanding nor contracting, we would typically expect that:
a. accounting profits to be zero.
b. economic profits to be zero.
c. the price of the good will be stable
d. both (b) and (c) would be true.

Question 2

An increase in the price of an input will increase the _____ of producing the final good and shift the supply curve of the commodity _____.
a. marginal cost; upward
b. transaction cost; upward
c. marginal cost; downward
d. transaction cost; downward

Liamb2179 · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

d

Answer to Question 2

A

lilldybug07 · **Reply 2 on:** Jun 30, 2018

Gracias!

Jossy

Excellent

Author Question: If a perfectly competitive industry is neither expanding nor contracting, we would typically expect ... (Read 11 times)

lilldybug07

If a perfectly competitive industry is neither expanding nor contracting, we would typically expect ...

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Liamb2179

If a perfectly competitive industry is neither expanding nor contracting, we would typically expect ...

lilldybug07

Jossy