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

Author Question: Assume the peanut industry, a perfectly competitive industry, is in long-run equilibrium with a ... (Read 146 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
on: Apr 19, 2019

Question 1

Which of the following is the set of conditions necessary for long-run equilibrium for a perfectly competitive firm?


◦ P = 
SRMC < 
SRAC = 
LRAC
◦ P > 
SRMC = 
SRAC = 
LRAC
◦ P = 
SRMC = 
SRAC > 
LRAC
◦ P = 
SRMC = 
SRAC = 
LRAC

Question 2

Assume the peanut industry, a perfectly competitive industry, is in long-run equilibrium with a market price of $5. If demand for peanuts increases and this industry is a decreasing-cost industry, long-run equilibrium will be reestablished at a price


◦ greater than $5.
◦ less than $5.
◦ equal to $5.
◦ either greater than or less than $5, depending on the number of firms that enter 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 xroflmao on Apr 19, 2019

bdobbins

  • Sr. Member
  • ****
  • Posts: 326
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


xroflmao

  • Hero Member
  • *****
  • Posts: 515
Reply #2 on: Apr 19, 2019
Excellent


bdobbins

  • Sr. Member
  • ****
  • Posts: 326
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

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

The Hippocampal Formation and Long-Term Potentiation The Hippocampal Formation and Long-Term Potentiation
Hormones acting through the brain help regulate metabolism and short- and long-term appetite. Hormones acting through the brain help regulate metabolism and short- and long-term appetite.
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 ...
Commercially made peanut butter doesn’t have any detectable levels of trans fatty acids Commercially made peanut butter doesn’t have any detectable levels of trans fatty acids
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
The Hardy–Weinberg Equilibrium The Hardy–Weinberg Equilibrium
Video: Glomerular filtrate rate: pressures that affect GFR, NFP & GFR and blood composition

For a complete list of videos, visit our video library