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

Author Question: The graph on the left shows the short-run cost curves for a firm in a perfectly competitive market. ... (Read 13 times)

kmoyer2

  • Full Member
  • ***
  • Posts: 140
on: Oct 12, 2022

Question 1

The graph shows average and marginal cost curves for a typical firm in a perfectly competitive industry in long-run equilibrium.



FIGURE 9-10

Refer to Figure 9-10. In long-run equilibrium, the firm will earn an economic profit of


◦ $0.
◦ $4500.
◦ between $0 and $4500.
◦ between $4500 and $17 500.
◦ more than $17 500.

Question 2

The graph on the left shows the short-run cost curves for a firm in a perfectly competitive market. The graph on the right shows the current market conditions in this industry.



FIGURE 9-7

Refer to Figure 9-7. What do you expect to happen in the long-run?


◦ Market supply will decrease.
◦ Market price will decrease.
◦ The firm's profit will decrease.
◦ both A and B
◦ both B and C
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 kmoyer2 on Oct 12, 2022

ahardin89

  • Full Member
  • ***
  • Posts: 157
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


kmoyer2

  • Member
  • Posts: 140
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Glioma. (a) Illustration of a large glioma (colored area) within the left cerebral hemisphere in a s Glioma. (a) Illustration of a large glioma (colored area) within the left cerebral hemisphere in a s
Herniated disk. A herniated disk is a protrusion of the disk’s gelatinous center, called the nucleus Herniated disk. A herniated disk is a protrusion of the disk’s gelatinous center, called the nucleus
Red-bellied short-necked turtle Red-bellied short-necked turtle
(a) The phagocytic process, beginning in the upper left with bacterial attachment and phagocytic ... (a) The phagocytic process, beginning in the upper left with bacterial attachment and phagocytic ...
How to graph quadratic equations that are in vertex form How to graph quadratic equations that are in vertex form
Video: Global warming and its effect on climate change

For a complete list of videos, visit our video library