Author Question: According to William Shepherd, the total assets of the top 100 firms in the United States have been ... (Read 59 times)

itsmyluck · **on:** Jun 30, 2018

According to William Shepherd, the total assets of the top 100 firms in the United States have been declining, mostly in response to increased imports.
a. True
b. False

Question 2

In the long run, a perfectly competitive industry is allocatively efficient because
a. the opportunity cost of resources needed to produce the last unit of output just equals the marginal value to consumers of the last unit
b. it maximizes producer surplus
c. consumer surplus could be larger if the price were lower
d. production occurs at the lowest average total cost
e. marginal costs are low