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

Author Question: A firm is earning an economic profit. In the short run the firm should ________. In the long run the ... (Read 90 times)

chandani

  • Hero Member
  • *****
  • Posts: 541
on: Apr 19, 2019

Question 1

Billy Bob's Fertilizer Engineers, a perfectly competitive firm, is incurring a loss, but the price is still above minimum average variable cost. Then in the short run this firm should ________, and in the long run, if there is no change in economic conditions, this firm should ________.


◦ shut down; exit the industry
◦ shut down; expand
◦ produce where 
MR = 
MC; exit the industry
◦ produce where 
MR = 
MC; expand

Question 2

A firm is earning an economic profit. In the short run the firm should ________. In the long run the firm should probably ________.


◦ shut down; expand
◦ produce where 
MC = 
MR; leave the industry
◦ produce where 
MC = 
MR; expand
◦ shut down; exit the industry
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 chandani on Apr 19, 2019

mochi09

  • Sr. Member
  • ****
  • Posts: 335
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 25% of students answer this correctly


chandani

  • Hero Member
  • *****
  • Posts: 541
Reply #2 on: Apr 19, 2019
Thanks


mochi09

  • Sr. Member
  • ****
  • Posts: 335
Reply #3 on: Apr 19, 2019
Welcome :)


« previous next »
 

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Work Settings for People Earning Master’s and Bachelor’s Degrees in Psychology Work Settings for People Earning Master’s and Bachelor’s Degrees in Psychology
Endochondral ossification of long bone. Endochondral ossification of long bone.
The Economic Way of Thinking The Economic Way of Thinking
Long division for polynomials Long division for polynomials
economic question economic question
economic question economic question
Video: Erythropoietin (EPO)

For a complete list of videos, visit our video library