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"In the long-run equilibrium, every firm in a competitive industry earns zero profit. Thus, if price falls, all of these firms will be unable to stay in business." Do you agree with this statement? Why, or why not?
identify production level to maximize profitsexplain how to balance fixed and variable costsapply economic cost
1. a firm in a competitive market invents a new method of production that lowers its marginal costs. what happens to
here is some data on the demand for lettucepricenbspnbspnbsp nbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp quantity
How can you justify the existence of government-granted monopolies for public utilities such as natural gas distribution and electricity in the light of traditional economic argument that the more competition there is, the more likely it is that a..
An individual competitive firm’s short-run supply curve is the portion of its marginal cost curve that equals or rises above the average variable cost. Describe why
A paper mill discharges gunk that causes damage of $200 to the fishermen's business. The pollution damage can be eliminated in one of two ways: the mill can install a filter at cost $300 or fishermen can install a water treatment plant at cost..
Which of the following is true regarding a bank's capital-asset ratio? The ratio gives an overall picture of the quality of business loans the bank is making.
Normal 0 false false false EN-US X-NONE X-NONE An investment of $5000 in B..
An investment opportunity will pay $10 with a 20% probability, $20 with a 40% probability, $30 with a 30% probability, and $40 with a 10% probability. what is the standard deviation of the investment?
a company uses two variable inputs labor l and materials m to produce its output. at the companys current level of
What would then be the annual cost of Redwood National Park if the interest rate is 10% and what is the opportunity cost of the establishment of the park, in terms of use of the land?
a random sample of 89 tourists in chattanooga showed that they spent an average of 2860 in a week with a standard
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