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Author Question: In the long run, firms in a competitive market A) shut down because profit goes to zero. B) lose ... (Read 38 times)

cnetterville

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on: Jul 1, 2018
In the long run, firms in a competitive market
 
  A) shut down because profit goes to zero.
  B) lose money.
  C) are not profit maximizing.
  D) earn zero economic profit.

Question 2

Regardless of market structure, all firms
 
  A) consider the actions of rivals.
  B) maximize profit by setting marginal revenue equal to marginal cost.
  C) produce a differentiated product.
  D) have the ability to set price.


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Sophiapenny

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

B


cnetterville

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

T4T

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Reply 3 on: Yesterday
Excellent

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