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Author Question: Consider the following cost curves for Firm X, a perfectly competitive firm.FIGURE 9-8Refer to ... (Read 57 times)

Ale

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on: Oct 12, 2022

Question 1

Consider a perfectly competitive firm. Which of the following equalities could hold true in a short-run equilibrium but not in a long-run equilibrium?
◦ P = MR
◦ P = AR
◦ TC = TFC + TVC
◦ P = AVC
◦ P = MC

Question 2

Consider the following cost curves for Firm X, a perfectly competitive firm.



FIGURE 9-8

Refer to Figure 9-8. Firm X is producing output level Q2 where price = P2. Which of the following statements about this firm are correct?
1. P = MC = SRATC = LRAC.
2. There are economic profits to attract new entrants.
3. Firm X is producing at its minimum efficient scale.


◦ Statement 1
◦ Statement 2
◦ Statement 3
◦ Statements 1 and 3
◦ Statements 2 and 3
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Ale on Oct 12, 2022

studyforce.com

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Reply #1 on: Oct 12, 2022
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.
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Ale

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

Liddy

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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