Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 06, 2024

is price equal to minimum LRAC in a monopolistically competitive industry in long-run equilibrium? why or why not?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

In a monopolistically competitive industry firms produce differentiated products allowing them to ha... 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

Step: 3

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

Microeconomics A Contemporary Introduction

Authors: William A. McEachern

9th edition

978-0538453714, 538453710, 978-1111415921

More Books

Students also viewed these Economics questions

Question

★★★★★

In the long run, a monopolistically competitive firm earns zero economic profit, which is exactly what would occur if the industry were perfectly competitive. Assuming that the cost curves for each...

Answered: 1 week ago

Question

★★★★★

Imagine that you have been charged with selecting the optimal set of investment projects to fund from the following list of 6 proposed projects. Discount Rate is 10%. 1) What is the NPV of Project A?...

Answered: 1 week ago

Question

★★★★★

Multiple Choice Questions 1. Which of the following conditions does NOT describe a firm in a monopolistically competitive market? a. It makes a product different from its competitors. b. It takes its...

Answered: 1 week ago

Question

★★★★★

1. Find the probability of obtaining between 40 and 60 heads when tossing a coin 100 times. 2. Find the probability of obtaining 6s between 20 and 40 times when rolling a die 200 times.

Answered: 1 week ago

Question

★★★★★

What balance does the Petty Cash account have at all times? Does this balance always equal the amount of cash in the fund? When are the two amounts equal? When are they unequal?

Answered: 1 week ago

Question

★★★★★

Construct a formal proof of validity for each of the following arguments: - Ex) Ex) (P): (x)(Dx (P): (x)(Fx ..(x) (Fx - Dx)

Answered: 1 week ago

Question

★★★★★

1. Put up humorous signs in the classroom to remind students of rules.

Answered: 1 week ago

Question

★★★★★

Medicis Pharmaceutical Corp. makes Solodyn, a prescription oral antibiotic. Medicis warns physicians that "autoimmune syndromes, including drug-induced lupus-like syndrome," may be associated with...

Answered: 1 week ago

Question

★★★★★

Part 1: Explain the job order cost system. Choose two (2) merchandising companies that use the job order cost system. Explain why it benefits these two (2) manufacturing companies to use this cost...

Answered: 1 week ago

Question

★★★★★

Ten replicate analyses of the concentration of mercury in a sample of commercial gas condensate gave the following results: 23.3 22.5 21.9 21.5 19.9 21.3 21.7 23.8 22.6 24.7 ng ml1 Calculate: the...

Answered: 1 week ago

Question

★★★★★

Cmo se pueden utilizar como herramientas de control lossistemas creados para la transferencia global de conocimientos?(Esto es para una clase de marketing, tiene que ser integral). 2 answers

Answered: 1 week ago

Question

★★★★★

June is a 34-year-old Jewish woman of color from New York, NY, and an Army Sergeant based in Georgia. She served one tour of duty in Iraq. Currently, she is in the process of being discharged due to...

Answered: 1 week ago

Question

★★★★★

Silvia is a 23-year-old, single, Vietnamese-American female brought into the emergency department by her father and sister. Silvia states she feels "unsafe" and expresses a paranoid fear that a...

Answered: 1 week ago

Question

★★★★★

Problems 1.On 8.23.17, the night before the Powerball lottery results were announced, a man posted ( and then deleted) the following Tweet: "If I win, 10 people who RT this tweet will get $1,000,000...

Answered: 1 week ago

Question

★★★★★

Abigail has three children - Ben who is a toddler aged 2, Marie who is aged 8, and a 15 year old named Josh. Abigail lives in a deteriorating two bedroom apartment in a crime ridden part of town. She...

Answered: 1 week ago

Question

★★★★★

As part of its internal analysis, an HR manager at a consumer products firm is asked to prepare a forecast for the supply of product managers over the next year. Which of these techniques would...

Answered: 1 week ago

Question

★★★★★

Which one of the following bonds is the least sensitive to interest rate risk? 3-year; 7 percent coupon 7-year; 4 percent coupon 5-year; 7 percent coupon 7-year; 7 percent coupon 3-year; 4 percent...

Answered: 1 week ago

Question

★★★★★

How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...

Answered: 1 week ago

Question

★★★★★

Explain how the specialization of labor can lead to increased productivity.

Answered: 1 week ago

Question

★★★★★

Some restaurants offer all you can eat meals. How is this practice related to diminishing marginal utility? What restrictions must the restaurant impose on the customer in order to make a profit?

Answered: 1 week ago

Question

★★★★★

Firms hurt by cheap imports typically argue that restricting trade will save U.S. jobs. Whats wrong with this argument? Are there ever any reasons to support such trade restrictions?

Answered: 1 week ago

Question

★★★★★

6. After LTP has formed: After the neuron has gone through LTP, what is now the effect of glutamate at the AMPA receptors? At the NMDA receptors?

Answered: 1 week ago

Question

★★★★★

2. Benzodiazepine tranquilizers impair memory. Use what you have learned in this chapter and the previous one to propose an explanation.

Answered: 1 week ago

Question

★★★★★

4. What is the difference between anterograde and retrograde amnesia?

Answered: 1 week ago

Previous Question Next Question