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Author Question: If a firm has a downward-sloping long-run average cost curve over the entire range of market demand, ... (Read 73 times)

berenicecastro

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on: Jun 30, 2018
If a firm has a downward-sloping long-run average cost curve over the entire range of market demand, it is a
 a. local monopoly
  b. resource monopoly
  c. monopsony
  d. output monopoly
  e. natural monopoly

Question 2

Firm A and B are producers in the same perfectly competitive industry. If Firm A earns a marginal revenue of 17,
 a. it earns an average revenue less than 17
  b. Firm B earns an average revenue of 17
  c. Firm B will try to charge 16 per unit
  d. it earns an average revenue greater than 17
  e. Firm B earns an average revenue greater than 17


lkanara2

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

E

Answer to Question 2

B


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