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

Author Question: The above figure shows three possible average total cost curves. If all firms in a perfectly ... (Read 80 times)

MGLQZ

  • Hero Member
  • *****
  • Posts: 579
on: May 24, 2019


The above figure shows three possible average total cost curves. If all firms in a perfectly competitive industry each have an average total cost curve identical to ATC0, each produces 20 units, and the market price of the good is $16 per unit, then
◦ the firms make an economic profit of $8 per unit.
◦ firms will enter the industry and the number of firms increases.
◦ the firms' ATC curves will eventually shift to become the same as ATC1.
◦ firms will exit the industry and the number of firms decreases.
◦ Both answers the firms make an economic profit of $8 per unit and firms will enter the industry and the number of firms increases are correct.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by MGLQZ on May 24, 2019

cloudre37

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: May 24, 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 29% of students answer this correctly


MGLQZ

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: May 24, 2019
TY


cloudre37

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: May 24, 2019
You're welcome


« previous next »
 

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

(a) The Dmanisi cranium (right) shows similarities to early African H. erectus including the Narioko (a) The Dmanisi cranium (right) shows similarities to early African H. erectus including the Narioko
Are reality shows “real”? Does the media tell the “truth”? Are reality shows “real”? Does the media tell the “truth”?
Competitive firms and maximization Competitive firms and maximization
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ... A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...
Average Precipitation Acidities and the Effects of Acid Rain Average Precipitation Acidities and the Effects of Acid Rain
Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v
Video: Blood Flow through the Human Heart

For a complete list of videos, visit our video library