« previous next »

Author Question: In long-run equilibrium, a. perfectly competitive firms in a decreasing-cost industry can earn ... (Read 57 times)

lracut11

  • Hero Member
  • *****
  • Posts: 536
on: Jun 30, 2018
In long-run equilibrium,
 a. perfectly competitive firms in a decreasing-cost industry can earn economic profits
  b. perfectly competitive firms in an increasing-cost industry can earn economic profits
  c. perfectly competitive firms in a constant-cost industry can earn economic profits
  d. perfectly competitive firms can earn only normal profits
  e. no entry occurs in an increasing-cost perfectly competitive industry

Question 2

Despite the Postal Service's legal monopoly over first-class mail delivery,
 a. the price of a first-class stamp has not changed for over a decade
  b. the price of a first-class stamp has fallen as delivery volume increased
  c. it still produces along the inelastic range of the market demand curve
  d. its faces competition from foreign suppliers
  e. it has lost huge chunks of other mail classes to private firms


frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

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.

Transformation and Evolution of a Long-Period Comet Transformation and Evolution of a Long-Period Comet
Solution (Polynomial Long Division) Solution (Polynomial Long Division)
How Long Does Poverty Last? How Long Does Poverty Last?
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Demographic transition model for changes in population growth rates and sizes, correlated with long- Demographic transition model for changes in population growth rates and sizes, correlated with long-
Video: Bone Healing Animation

For a complete list of videos, visit our video library