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

Author Question: If a monopolistically competitive industry is in long-run equilibrium, then for each firm (Read 67 times)

hgjjghgjh

  • Full Member
  • ***
  • Posts: 132
on: Oct 12, 2022

Question 1

In long-run equilibrium, a monopolistically competitive industry operates where
◦ MR > MC.
◦ LRAC > minimum average cost.
◦ LRAC = MC.
◦ LRAC is increasing.
◦ P > LRAC.

Question 2

If a monopolistically competitive industry is in long-run equilibrium, then for each firm
◦ price equals MC at the minimum level of the firm's LRAC curve.
◦ the demand curve is tangent to its LRAC curve.
◦ the demand curve cuts the MC curve at the minimum level of the LRAC curve.
◦ the MC curve intersects MR at the minimum level of its LRAC curve.
◦ positive profits are being earned.
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 hgjjghgjh on Oct 12, 2022

wangyichun

  • Full Member
  • ***
  • Posts: 179
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 56% of students answer this correctly


hgjjghgjh

  • Member
  • Posts: 132
Reply 2 on: Oct 12, 2022
Excellent

billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Overview of material uptake and long-distance transport processes in plants Overview of material uptake and long-distance transport processes in plants
Local and long–distance cell communication in animals. Local and long–distance cell communication in animals.
A pleasant smile can go a long way, even through telephone lines. A pleasant smile can go a long way, even through telephone lines.
The opening of the throttle plate can be delayed as long as 30 milliseconds (0.030 sec) to allow ... The opening of the throttle plate can be delayed as long as 30 milliseconds (0.030 sec) to allow ...
Major Categories of Long-Term Memory Major Categories of Long-Term Memory
Demographic transition model for changes in population growth rates and sizes, correlated with long- Demographic transition model for changes in population growth rates and sizes, correlated with long-
Video: Introduction to Breast Cancer

For a complete list of videos, visit our video library