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Author Question: To achieve allocative efficiency, firms a. strive to minimize fixed costs b. strive to maximize ... (Read 112 times)

Marty

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on: Jun 30, 2018
To achieve allocative efficiency, firms
 a. strive to minimize fixed costs
  b. strive to maximize profits
  c. produce at their minimum long-run average cost
  d. produce at their minimum long-run marginal cost
  e. produce the output consumers want most

Question 2

Which of the following is an example of a local monopoly as compared to a national or international monopoly?
 a. a restaurant at a rural crossroads
  b. Alcoa during the 19th century
  c. De Beers Consolidated Mines
  d. AT&T
  e. U.S. Postal Service


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Viet Thy

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

E

Answer to Question 2

A


Marty

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Reply 2 on: Jun 30, 2018
Wow, this really help

chereeb

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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