Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In long-run competitive equilibrium, firms (1pts) Question 2 - In long-run competitive equilibrium, firms earn positive economic profits. have no incentive to make any changes.

In long-run competitive equilibrium, firms (1pts) Question 2 - In long-run competitive equilibrium, firms earn positive economic profits. have no incentive to make any changes. earn losses on some units of the good they produce and sell. do not produce the quantity of output at which MR = MC

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics

Authors: Paul A. Samuelson, William Nordhaus

19th edition

978-0073511290, 73511293, 978-0073344232, 73344230, 978-007351129

More Books

Students also viewed these Economics questions

Question

2. Confront self-defeating, failure-avoiding strategies directly.

Answered: 1 week ago

Question

What should you give the person in order to make decisions?

Answered: 1 week ago