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

Author Question: For a perfectly competitive firm, when P= MC= ATC, the most profit the firm can earn is zero. (Read 91 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
on: Apr 19, 2019

Question 1

If demand in a perfectly competitive market increases, then an individual firm in that industry will see its profits fall.


◦ true
◦ false

Question 2

For a perfectly competitive firm, when 
P = 
MC = 
ATC, the most profit the firm can earn is zero.


◦ true
◦ false
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by HudsonKB16 on Apr 19, 2019

SVictor

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly


HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
Reply #2 on: Apr 19, 2019
Thank you!


SVictor

  • Sr. Member
  • ****
  • Posts: 365
Reply #3 on: Apr 19, 2019
Always glad to help...


« previous next »
 

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Profit-maximizing Chart Profit-maximizing Chart
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Competitive firms and maximization Competitive firms and maximization
Video: Natural Selection, Species Isolation and Real World Example

For a complete list of videos, visit our video library