This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Firms in monopolistic competition and perfect competition typically a. are price takers b. produce ... (Read 97 times)

BrownTown3

  • Hero Member
  • *****
  • Posts: 564
on: Jun 30, 2018
Firms in monopolistic competition and perfect competition typically
 a. are price takers
  b. produce identical products
  c. earn zero economic profit in the long run
  d. face a downward-sloping demand curve
  e. face an upward-sloping total revenue curve at all rates of output

Question 2

As a result of legislation to establish a floor price for milk, most dairy farmers will
 a. end up earning a normal rate of return in the long run
  b. end up earning a zero rate of return in the long run
  c. end up earning a negative rate of return in the long run
  d. benefit from the increased cost of specialized resources used in dairy farming
  e. suffer if they own specialized resources at the time the legislation is passed


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shoemake

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

A


BrownTown3

  • Member
  • Posts: 564
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

How genes produce proteins that determine traits in a simple dominant-recessive relationship. How genes produce proteins that determine traits in a simple dominant-recessive relationship.
In one-male group species, extra males typically reside in all-male “bachelor” groups. These are Han In one-male group species, extra males typically reside in all-male “bachelor” groups. These are Han
PIC PERFECT PIC PERFECT
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Examples of the most common X-ray positions and the images they produce. Examples of the most common X-ray positions and the images they produce.
Tricyclic antidepressants produce their effects by inhibiting the reuptake of neurotransmitters ... Tricyclic antidepressants produce their effects by inhibiting the reuptake of neurotransmitters ...
Video: Muscle Fatigue and Recovery

For a complete list of videos, visit our video library