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

Author Question: Suppose your trucking firm in a perfectly competitive industry is making zero economic profits in ... (Read 48 times)

bvyeehaw

  • Full Member
  • ***
  • Posts: 150
on: Oct 12, 2022

Question 1

Suppose a perfectly competitive firm is producing a level of output such that its average revenue is less than its lowest average variable cost. The firm should
◦ not change its output.
◦ increase the market price.
◦ expand its output.
◦ reduce its output.
◦ produce zero output.

Question 2

Suppose your trucking firm in a perfectly competitive industry is making zero economic profits in the short run. The federal government imposes a new safety regulation that affects all firms, thus shifting the marginal cost curve upward. As a result your firm's profit maximizing, short-run output will
◦ remain the same since the new regulation does not affect ATC.
◦ increase as firms will leave the industry at the higher costs, thus driving up the market price.
◦ increase as price rises in the long run.
◦ remain the same because you will pass on the extra costs to the consumers.
◦ decrease because the new MC curve will intersect the horizontal demand curve at a lower rate of output.
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 bvyeehaw 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


bvyeehaw

  • Member
  • Posts: 150
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

okolip

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

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?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

This pre-Anasazi community in Mesa Verde, Colorado, was carved into a cliff, making it nearly impreg This pre-Anasazi community in Mesa Verde, Colorado, was carved into a cliff, making it nearly impreg
Accounting (Making Entries) Accounting (Making Entries)
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
economic question economic question
economic question economic question
Video: Import of Dietary Glucose from Intestines to Bloodstream

For a complete list of videos, visit our video library