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 84 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?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

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?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

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
Economic and Social Development Economic and Social Development
Economic Development Economic Development
Data management short answer q Data management short answer q
When a 2.75-kg fan, having blades 18.5 cm long, is turned off, its angular speed decreases ... When a 2.75-kg fan, having blades 18.5 cm long, is turned off, its angular speed decreases ...
Long division of polynomials Long division of polynomials
Video: Blood Test Basics

For a complete list of videos, visit our video library