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

Author Question: Which of the following is true in long-run equilibrium for both perfect competition and monopolistic ... (Read 108 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
Which of the following is true in long-run equilibrium for both perfect competition and monopolistic competition?
 a. Accounting profit is zero.
  b. Marginal cost equals price.
  c. Long-run average cost is at a minimum.
  d. Economic profit is zero.

Question 2

Indifference curve analysis is based on a mythical unit called a util.
 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

Natalie4ever

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Cellular changes associated with short-term and long-term memory in the sea slug. Cellular changes associated with short-term and long-term memory in the sea slug.
Local and long–distance cell communication in animals. Local and long–distance cell communication in animals.
True Friendship True Friendship
Comparison of reactions at equilibrium and steady state Comparison of reactions at equilibrium and steady state
fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have
On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb On November 11, 1887, four anarchists were hanged in Chicago on charges that they had thrown a bomb
Video: Secondary Active Transport

For a complete list of videos, visit our video library