This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the long run, in a competitive industry a. economic profits are zero b. firms break even c. ... (Read 67 times)

Starlight

  • Hero Member
  • *****
  • Posts: 567
on: Jul 1, 2018
In the long run, in a competitive industry
 a. economic profits are zero
  b. firms break even
 c. price equals average cost
  d. all of the above

Question 2

In an auction where the bidders values are 400, 500, 650, 800 and 850, the highest two bidders form a bid-rigging cartel. What would be the winning bid in this auction?
 a. 501
  b. 651
  c. 801
  d. 846


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

covalentbond

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

b


Starlight

  • Member
  • Posts: 567
Reply 2 on: Jul 1, 2018
Excellent

pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Having a time zone map located near the telephone will assist you when making long distance calls ou Having a time zone map located near the telephone will assist you when making long distance calls ou
Apply long effleurage stroke to entire arm-hand to shoulder. Brush off from shoulder to hand to ... Apply long effleurage stroke to entire arm-hand to shoulder. Brush off from shoulder to hand to ...
Long-wave energy flux is emitted from Earth Long-wave energy flux is emitted from Earth
economic question economic question
economic question economic question
economic question economic question
Video: HDL (high density lipoprotein)

For a complete list of videos, visit our video library