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 40 times)

Deej

  • Full Member
  • ***
  • Posts: 144
on: Oct 12, 2022
Suppose a typical firm in a competitive industry has the following data in the short run: price = $4000; output = 1 million units; ATC = $4000; AVC = $3500. 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 Deej on Oct 12, 2022

aublw

  • Full Member
  • ***
  • Posts: 168
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


Deej

  • Member
  • Posts: 144
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

steff9894

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

« previous next »
 

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Cross section of a typical port fuel-injection nozzle assembly. These injectors are serviced as an ... Cross section of a typical port fuel-injection nozzle assembly. These injectors are serviced as an ...
The typical placement of electrodes around the eye for electrooculography. The two electrooculogram ... The typical placement of electrodes around the eye for electrooculography. The two electrooculogram ...
Typical sandwich bar Typical sandwich bar
Short Table of Laplace Tranforms Short Table of Laplace Tranforms
In a typical proteomic analysis, cells are exposed to different conditions In a typical proteomic analysis, cells are exposed to different conditions
Video: Burn Animation

For a complete list of videos, visit our video library