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

Author Question: The following diagram shows a perfectly competitive industry and firm. Initial supernormal profits ... (Read 106 times)

bio_gurl

  • Hero Member
  • *****
  • Posts: 524
on: May 25, 2020

Question 1

The following diagram shows a perfectly competitive industry and firm.


The position shown is NOT a long-run equilibrium because
◦ MC > AC.
◦ D = AR.
◦ AR = MR.
◦ AR > AC at Qe.

Question 2

The following diagram shows a perfectly competitive industry and firm. Initial supernormal profits have attracted new firms into the industry.

 
QL represents long-run equilibrium output of the firm because
◦ P1 > PL.
◦ LRAC = ARL.
◦ Se > S1.
◦ D1 > DL.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by bio_gurl on May 25, 2020

ASDFGJLO

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: May 25, 2020
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


bio_gurl

  • Member
  • Posts: 524
Reply 2 on: May 25, 2020
Wow, this really help

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Diagram of a prokaryotic flagellum, showing filament, hook, and motor. Diagram of a prokaryotic flagellum, showing filament, hook, and motor.
SPINAL NERVES DIAGRAM SPINAL NERVES DIAGRAM
Distance from Initial Change in Membrane Potential vs. Voltage Change Relative to Initial Change Distance from Initial Change in Membrane Potential vs. Voltage Change Relative to Initial Change
How to use a tree diagram to find the probability How to use a tree diagram to find the probability
This image shows a normal third-trimester fetal brain This image shows a normal third-trimester fetal brain
In a room where g = 9.81 m/s2, a hockey puck slides off the edge of a platform with an initial ... In a room where g = 9.81 m/s2, a hockey puck slides off the edge of a platform with an initial ...
Video: Subunits of DNA And Semi Conservative Replication

For a complete list of videos, visit our video library