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

Author Question: In a perfectly competitive market, if price is greater than average total cost at the level of ... (Read 92 times)

mcmcdaniel

  • Hero Member
  • *****
  • Posts: 550
on: Jul 20, 2019
In a perfectly competitive market, if price is greater than average total cost at the level of output where marginal cost equals marginal revenue:
◦ the firm is earning an economic profit greater than zero.
◦ the firm must be in long-run equilibrium.
◦ the firm is earning an economic profit less than zero.
◦ We cannot determine whether the firm is earning positive or negative profits.
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mcmcdaniel on Jul 20, 2019

ong527

  • Sr. Member
  • ****
  • Posts: 285
Reply #1 on: Jul 20, 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 56% of students answer this correctly


mcmcdaniel

  • Hero Member
  • *****
  • Posts: 550
Reply #2 on: Jul 20, 2019
Thank you!


ong527

  • Sr. Member
  • ****
  • Posts: 285
Reply #3 on: Jul 20, 2019
Always glad to help...


« previous next »
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

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?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

A visual inspection on this battery showed that the electrolyte level was below the plates in all ... A visual inspection on this battery showed that the electrolyte level was below the plates in all ...
The Nile Delta will be strongly affected by a rise in sea level of 50 cm The Nile Delta will be strongly affected by a rise in sea level of 50 cm
The average weight gain between Thanksgiving and New Year's Day is about a pound The average weight gain between Thanksgiving and New Year's Day is about a pound
Average Distribution of Incoming Solar Radiation Average Distribution of Incoming Solar Radiation
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011 Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011
Three mechanics worked 15 1/2, 14 3/4, 18 1/8 hours respectively. What was the total Three mechanics worked 15 1/2, 14 3/4, 18 1/8 hours respectively. What was the total
Video: PET Scan Animation

For a complete list of videos, visit our video library