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 88 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?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Total fertility rates (TFRs) among major regions of the world. Total fertility rates (TFRs) among major regions of the world.
A noose hanging from a “Liberty Tree” reveals this artist’s bias: The “tar-and-feathering” of a Brit A noose hanging from a “Liberty Tree” reveals this artist’s bias: The “tar-and-feathering” of a Brit
Average Normal Blood Pressure Readings Average Normal Blood Pressure Readings
Typical Startup Cost Categories Typical Startup Cost Categories
Keeping your feelings to yourself may increase your stress level Keeping your feelings to yourself may increase your stress level
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Energy inputs and release in glycolysis Animation

For a complete list of videos, visit our video library