This topic contains a solution. Click here to go to the answer

Author Question: In long-run equilibrium, a perfectly competitive firm will produce an output level at which its ... (Read 152 times)

mpobi80

  • Hero Member
  • *****
  • Posts: 519
In long-run equilibrium, a perfectly competitive firm will produce an output level at which its long-run average cost curve is upward sloping.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Utility theory assumes that marginal utility:
 a. increases as an individual consumes more of a product.
  b. decreases as an individual consumes more of a product.
  c. is zero as long as the individual derives utility from the product.
  d. is constant as long as the individual derives utility from the product.
  e. is constant as long as the individual derives satisfaction from the product.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kardosa007

  • Sr. Member
  • ****
  • Posts: 300
Answer to Question 1

False

Answer to Question 2

b




mpobi80

  • Member
  • Posts: 519
Reply 2 on: Jun 30, 2018
:D TYSM


tranoy

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Excellent

 

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.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

For a complete list of videos, visit our video library