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Author Question: In long-run equilibrium, a perfectly competitive firm will produce an output level at which its ... (Read 150 times)

mpobi80

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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.



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kardosa007

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Answer to Question 1

False

Answer to Question 2

b




mpobi80

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


robbielu01

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Reply 3 on: Yesterday
Excellent

 

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