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 67 times)

dongbo

  • 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 = $5000; output = 1 million units; ATC = $5300; AVC = $4750. 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.
◦ Consumers will avoid this industry because firms are suffering losses.
◦ 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 dongbo on Oct 12, 2022

Nutellas_Good

  • Full Member
  • ***
  • Posts: 156
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


dongbo

  • Member
  • Posts: 137
Reply 2 on: Oct 12, 2022
Gracias!

dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after
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 engine-driven cooling fan. A typical engine-driven cooling fan.
Typical "butterfly" rash seen in SLE. Typical "butterfly" rash seen in SLE.
Typical clinical manifestation of hereditary angioedema (C1 inhibitor deficiency). You can see a ... Typical clinical manifestation of hereditary angioedema (C1 inhibitor deficiency). You can see a ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Video: Helper T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library