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Author Question: If a monopolistically competitive industry is in long-run equilibrium, then for each firm (Read 28 times)

hgjjghgjh

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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
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Marked as best answer by hgjjghgjh on Oct 12, 2022

wangyichun

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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.
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hgjjghgjh

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

dawsa925

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Reply 3 on: Yesterday
Wow, this really help

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