« previous next »

Author Question: If a perfectly competitive firm is operating in long-run equilibrium and market demand suddenly ... (Read 79 times)

dejastew

  • Hero Member
  • *****
  • Posts: 562
on: Jun 30, 2018
If a perfectly competitive firm is operating in long-run equilibrium and market demand suddenly falls, the short-run result will be
 a. greater economic profit
  b. a normal profit
  c. lower average total cost
  d. lower average variable cost
  e. an economic loss

Question 2

A monopolist price discriminates by
 a. charging different buyers different prices for different products
  b. charging different buyers different prices for the same product
  c. selling at a price below average total cost
  d. selling at a price below marginal cost
  e. selling at a price above marginal revenue


Expo

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 30, 2018
Answer to Question 1

E

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr
Economic recession in 2008 saw a small decrease in demand Economic recession in 2008 saw a small decrease in demand
Rapid, long-distance signaling in plants Rapid, long-distance signaling in plants
In the figure, a 10.0-m long bar is attached by a frictionless hinge to a wall and held ... In the figure, a 10.0-m long bar is attached by a frictionless hinge to a wall and held ...
Video: Phases of an Action Potential - Resting Potential, Threshold, Rising, Falling, & Recovery Phases

For a complete list of videos, visit our video library