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

Author Question: Which of the following statements is not characteristic of a perfectly competitive industry in ... (Read 49 times)

azncindy619

  • Hero Member
  • *****
  • Posts: 562
on: Jun 30, 2018
Which of the following statements is not characteristic of a perfectly competitive industry in long-run equilibrium?Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
 a. A profit-maximizing firm may produce any output level at which P < LRATC.
  b. Every firm produces at an output level at which MC = LRATC.
 c. Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
  d. No firm earns an economic profit.

Question 2

Which of the following is an absolute measure of poverty?
 a. Gini co-efficient
  b. Per capita income
  c. HiLo ratio
  d. Hoover index
  e. Theil index


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


azncindy619

  • Member
  • Posts: 562
Reply 2 on: Jun 30, 2018
Wow, this really help

Mochi

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

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.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

In 1891 William Dean Howells championed the poetry of Emily Dickinson: “This poetry is as characteri In 1891 William Dean Howells championed the poetry of Emily Dickinson: “This poetry is as characteri
Natural Resources and Industry Natural Resources and Industry
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
The hand on the right exhibits the orange-tinged skin characteristic of carotenodermia The hand on the right exhibits the orange-tinged skin characteristic of carotenodermia
Food policy can drive the food industry Food policy can drive the food industry
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Video: Exocytosis - secretion

For a complete list of videos, visit our video library