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Author Question: In long-run equilibrium, the typical perfectly competitive firm has no incentive to: a. change ... (Read 18 times)

Yolanda

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on: Jun 30, 2018
In long-run equilibrium, the typical perfectly competitive firm has no incentive to:
 a. change output.
  b. change plant size.
  c. enter or leave the industry.
  d. do any of these.

Question 2

If a 10 percent price increase causes the quantity demanded for a good to decrease by 5 percent, demand is elastic.
 a. True
  b. False
  Indicate whether the statement is true or false


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olivia_paige29

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

d

Answer to Question 2

False


Yolanda

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

Animal_Goddess

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

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