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

Author Question: Suppose a typical firm in a competitive industry has the following data in the short run: price = ... (Read 51 times)

tyratatyanna

  • Full Member
  • ***
  • Posts: 137
on: Oct 12, 2022
Suppose a typical firm in a competitive industry has the following data in the short run: price = $6; output = 100 units; ATC = $8; AVC = $7. What will likely happen in the long run?
◦ In the long, run the industry will expand because firms are earning economic profits.
◦ In the long, run the industry will contract because firms are suffering losses.
◦ The size of the industry will remain the same in the long run.
◦ The typical firm would shut down, until the remaining firms have a higher price.
◦ There is not enough information to formulate an answer.
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 tyratatyanna on Oct 12, 2022

dianagarcia

  • Full Member
  • ***
  • Posts: 189
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 50% of students answer this correctly


tyratatyanna

  • Member
  • Posts: 137
Reply 2 on: Oct 12, 2022
Wow, this really help

Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

The characteristically small and relatively short-legged reindeer from Svalbard The characteristically small and relatively short-legged reindeer from Svalbard
The rate of evolution in short­ and long­lived plants The rate of evolution in short­ and long­lived plants
Thyroid scan. The right image is the data from a thyroid scan, printed on a superimposed map of the Thyroid scan. The right image is the data from a thyroid scan, printed on a superimposed map of the
A typical calibration code sticker on the case of a controller. The information on the sticker is ... A typical calibration code sticker on the case of a controller. The information on the sticker is ...
A typical hydrogen fuel cell A typical hydrogen fuel cell
A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ... A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ...
Video: Neural Reflex Arc Animation

For a complete list of videos, visit our video library