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

Author Question: Which of the following is true for a firm operating under perfect competition, monopolistic ... (Read 72 times)

fagboi

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
Which of the following is true for a firm operating under perfect competition, monopolistic competition, and monopoly?
 a. Firms earn positive economic profits in the long run.
  b. Firms earn zero economic profits in the long run.
  c. Profits are maximized when marginal cost equals marginal revenue.
  d. Price equals marginal cost.

Question 2

Indifference curve analysis is based on numerical measurement of utility.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

apple

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

False


fagboi

  • Member
  • Posts: 535
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

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?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Discipline-specific training can take years to perfect. Discipline-specific training can take years to perfect.
Alexander Fleming photographed in his lab where he observed the natural competition between a fungus Alexander Fleming photographed in his lab where he observed the natural competition between a fungus
True Friendship True Friendship
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
Perfect Circles Perfect Circles
Video: Types of disease resistance: innate defenses & immunity

For a complete list of videos, visit our video library