« previous next »

Author Question: In long-run equilibrium, output is expanded to the minimum long-run average total cost by: a. ... (Read 208 times)

mmm

  • Hero Member
  • *****
  • Posts: 558
on: Jun 30, 2018
In long-run equilibrium, output is expanded to the minimum long-run average total cost by:
 a. perfectly competitive firms but not by monopolistically competitive firms.
  b. monopolistically competitive firms but not by perfectly competitive firms.
  c. both monopolistically competitive firms and perfectly competitive firms.
  d. neither perfectly competitive firms nor monopolistically competitive firms.

Question 2

Barbara owns a small shop where dresses are made. At the end of a given month, she has 250 dresses. Her expenses for the month are 1,000 for rent, 6,000 for wages, 1,500 for fabric and thread, and 500 for electricity. Her total variable costs for the month are:
 a. c and e.
  b. 4,000.
  c. 32 per dress.
  d. 7,500.
  e. 8,000.


Jevvish

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

e


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Although average brain size increases gradually though time in H. erectus, individuals with small br Although average brain size increases gradually though time in H. erectus, individuals with small br
Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu
Selected Complications of Total Parenteral Nutrition Selected Complications of Total Parenteral Nutrition
Human activity has released carbon from sequestration in long-term reservoirs Human activity has released carbon from sequestration in long-term reservoirs
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Finding the length given total distance and distance longer than other point Finding the length given total distance and distance longer than other point
Video: Transcription - Introns and exons

For a complete list of videos, visit our video library