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 24 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
Wow, this really help

LVPMS

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
A pleasant smile can go a long way, even through telephone lines. A pleasant smile can go a long way, even through telephone lines.
Hormones acting through the brain help regulate metabolism and short- and long-term appetite. Hormones acting through the brain help regulate metabolism and short- and long-term appetite.
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
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 Photolithography - WC, BLF, PA, Hard and Soft baking

For a complete list of videos, visit our video library