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 88 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?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually Greenstick Only one side of the shaft is broken, and the other is bent (like a greenstick); usually
Local/long distance cell Signaling Local/long distance cell Signaling
Major trunk lines carrying long-distance traffic crisscrossed the area east of the Mississippi. The Major trunk lines carrying long-distance traffic crisscrossed the area east of the Mississippi. The
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
How long does exercise affect blood sugar? How long does exercise affect blood sugar?
What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ... What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ...
Video: Alternative Energy Sources

For a complete list of videos, visit our video library