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Author Question: Which of the following is true in long-run equilibrium for both perfect competition and monopolistic ... (Read 146 times)

storky111

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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


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Natalie4ever

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


storky111

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

ebonylittles

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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