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

Author Question: Consider the following cost curves for Firm X, a perfectly competitive firm.FIGURE 9-8Refer to ... (Read 63 times)

Ale

  • Full Member
  • ***
  • Posts: 125
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Ale on Oct 12, 2022

studyforce.com

  • Full Member
  • ***
  • Posts: 193
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.
Answer Preview
Only 35% of students answer this correctly


Ale

  • Member
  • Posts: 125
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

mcarey591

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

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.

A peroxidation reaction involving a fatty acid is depicted in the figure below. A peroxidation reaction involving a fatty acid is depicted in the figure below.
Paul Colin, Figure of a Woman. Paul Colin, Figure of a Woman.
Move joints in hands. Apply scissoring to metacarpals and figure-8s to fingers. Move joints in hands. Apply scissoring to metacarpals and figure-8s to fingers.
Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Figure and Ground Figure and Ground
Sample lod score curves Sample lod score curves
Video: Congenital Heart Defects Animation

For a complete list of videos, visit our video library