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 8 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
YES! Correct, THANKS for helping me on my review

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Hartmann's mountain zebra resting, showing its characteristic essentially unbarred belly Hartmann's mountain zebra resting, showing its characteristic essentially unbarred belly
Malignant melanoma. This photograph demonstrates the highly characteristic color of this tumor. Malignant melanoma. This photograph demonstrates the highly characteristic color of this tumor.
Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
How to convert verbal statements into algebraic equations (Part 3) How to convert verbal statements into algebraic equations (Part 3)
Competitive firms and maximization Competitive firms and maximization
The Oil Industry: BOEM iron triangle The Oil Industry: BOEM iron triangle
Video: Automated external defibrillator (AED)

For a complete list of videos, visit our video library