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Author Question: Monopolists can earn positive economic profits in the long run because they are more productively ... (Read 84 times)

deesands

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on: Jun 30, 2018
Monopolists can earn positive economic profits in the long run because they are more productively efficient than perfectly competitive firms.
 a. True
  b. False

Question 2

A perfectly competitive firm producing 100 units of output per period finds that: Average total cost is 20; Average variable cost is 12; Marginal cost is 18 and increasing; Price of the product is 15. This firm should
 a. produce more output
  b. raise the price of its product
  c. reduce production without shutting down
  d. shut down (reduce output to zero)
  e. do nothing (it is currently maximizing profit)


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rleezy04

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

B

Answer to Question 2

C


deesands

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Reply #2 on: Jun 30, 2018
Thank you :)


rleezy04

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Reply #3 on: Jun 30, 2018
Happy to help you


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