« previous next »

Author Question: Long-run equilibrium for a perfectly competitive firm occurs when a. P = MC = MR = ATC b. MC = MR ... (Read 56 times)

corkyiscool3328

  • Hero Member
  • *****
  • Posts: 539
on: Jun 30, 2018
Long-run equilibrium for a perfectly competitive firm occurs when
 a. P = MC = MR = ATC
  b. MC = MR = AFC = ATC
  c. MC = MR = P > ATC
  d. P > MC > MR > ATC
  e. TR > TC

Question 2

The actual deadweight loss from monopoly in the U.S. may be greater than calculated estimates because some
 a. monopolies experience strong economies of scale
  b. monopolists spend resources to secure and maintain their monopoly
  c. monopolists may purposely keep price lower than its profit-maximizing level, in order to increase barriers to entry
  d. monopolists' markets are contestable
  e. monopolists' prices and profits are regulated by the government


DHRUVSHAH

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

The rate of evolution in short­ and long­lived plants The rate of evolution in short­ and long­lived plants
Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu
Long Term Control Medications Long Term Control Medications
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
Flexible exchange rates are supposed to prevent long-term trade deficits. Flexible exchange rates are supposed to prevent long-term trade deficits.
Competitive firms and maximization Competitive firms and maximization
Video: Factors that influence muscle tension - Sarcomere length and force, understretched and overstretched

For a complete list of videos, visit our video library