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Author Question: In long-run equilibrium for a perfectly competitive firm, price equals which of the following? a. ... (Read 52 times)

nummyann

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on: Jun 30, 2018
In long-run equilibrium for a perfectly competitive firm, price equals which of the following?
 a. Economies of real cost.
  b. Maximum total revenue.
  c. Diseconomies of scale cost.
  d. Minimum point on the long-run average cost curve.

Question 2

If the income elasticity of demand for a good is positive, the good is a normal good.
 a. True
  b. False
  Indicate whether the statement is true or false


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johnpizzaz

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

d

Answer to Question 2

True


nummyann

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

Joy Chen

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

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