FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is necessarily true for a perfectly competitive firm if P > ATC. O The firm should continue producing in the short-run and shut down

image text in transcribed
What is necessarily true for a perfectly competitive firm if P > ATC. O The firm should continue producing in the short-run and shut down in the long- run. In the long-run, firms will exit the industry. D The firm is earning positive profit. O The firm should shut down production immediately. O The firm is earning zero profit

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

Research In Forest Economics And Forest Policy

Research In Forest Economics And Forest Policy

Authors: Marion Clawson

1st Edition

1317362624, 9781317362623

More Books

Students also viewed these Economics questions

Question

★★★★★
Give a curved-arrow mechanism for each of the following reactions. In each reaction identify the intermediate indicated by A or B. NaOEt Hio EtOH CO2Et

Answered: 1 week ago

Question

★★★★★
Why might an auditor be concerned if all of the companys management authority is centered in one or two individuals?

Answered: 1 week ago

Question

★★★★★
2. Have students do projects, organize portfolios of their work, make oral presentations, or create a finished product.

Answered: 1 week ago

Question

★★★★★
Given below is a list of account balances for Currie Hospital as of December 31, 2004. Prepare a balance sheet as of December 31, 2004, in good form. AccountBalance Gross plant & equipment...

Answered: 1 week ago

Question

★★★★★
Question 11 5 marks Consider the following java code: int temperature = 1482; if(temperature > 0) System.out.println("Not frozen yet"); else if(temperature == 0) System.out.println("Start to...

Answered: 1 week ago

Question

★★★★★
White Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Cutting Department bases its...

Answered: 1 week ago

Question

★★★★★
Q1: Why is ethics important in accounting? Q2: What are some common ethical issues faced by accountants?

Answered: 1 week ago

Question

★★★★★
Q1: What is the purpose of investment analysis in accounting? Q2: What are some common methods used in investment analysis?

Answered: 1 week ago

Question

★★★★★
Q1: What is corporate finance, and what are its primary functions? Q2: Explain the difference between equity financing and debt financing.

Answered: 1 week ago

Question

★★★★★
SECTION D- ESSAY QUESTIONS. [50 MARKS] Answer any two questions from this section. Question 1 Study the below passage and answer the questions that follow. Many well-known examples of the use of...

Answered: 1 week ago

Question

★★★★★
A# C# D# F#G# A# C# D# F# G#A# C#D# F#G#A# C# D# F#G#A# C# D# F# G# A# C# D# F# G# A# C#D# F#G#A# ABCDEFGABCDEFGABCDEFGABCDEFGABCDEFGABCDEFGABCDEFGABC 220 Hz middle C

Answered: 1 week ago

Question

★★★★★
5. How can a sender (utterer) directly influence the interpreter (receiver)?

Answered: 1 week ago

Question

★★★★★
10. Find a news article in a daily newspaper, and answer the following questions: (a) Does the information in the article support your views and attitudes or does it conflict with them? (b) Does the...

Answered: 1 week ago

Question

★★★★★
2. Give an example where information that is emotionally interesting, specific and close in time and space, can be used to capture someones interest.

Answered: 1 week ago

Previous Question Next Question