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

Author Question: The diagram below shows the short-run cost curves for 3 perfectly competitive firms in the same ... (Read 17 times)

awgagawg

  • Full Member
  • ***
  • Posts: 144
on: Oct 12, 2022

The diagram below shows the short-run cost curves for 3 perfectly competitive firms in the same industry.



FIGURE 9-9

Refer to Figure 9-9. Given that Firms A, B and C are in the same industry, is this industry in long-run equilibrium?


◦ Yes, because each of the 3 firms is operating at its minimum efficient scale.
◦ No, because if the industry were in equilibrium, all 3 firms would be earning zero economic profits.
◦ No, because Firm A is not producing at a profit-maximizing level of output.
◦ Yes, because P = MC = MR for each of the 3 firms.
◦ Yes, because all 3 firms are producing at their minimum average total cost.
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 awgagawg on Oct 12, 2022

gcurrens

  • Full Member
  • ***
  • Posts: 170
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 29% of students answer this correctly


awgagawg

  • Member
  • Posts: 144
Reply 2 on: Oct 12, 2022
:D TYSM

dawsa925

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Diagram of a cell nucleus Diagram of a cell nucleus
Peripheral nervous system PNS Diagram Peripheral nervous system PNS Diagram
Supernova Light Curves Supernova Light Curves
Schematic Diagram of Steam-to-air experiment (CHE415 Unit Operations) Schematic Diagram of Steam-to-air experiment (CHE415 Unit Operations)
Heat Exchanger Block Diagram Feedback Control System Heat Exchanger Block Diagram Feedback Control System
Hip anatomy diagram Hip anatomy diagram
Video: Enzyme-Catalyzed Reactions

For a complete list of videos, visit our video library