Contestable Markets, When consumers ultimately cannot distinguish one roasted chicken

Contestable Markets

When consumers ultimately cannot distinguish one roasted chicken dinner from other, when roasted chicken dinners are produced within a constant cost industry, and when no barriers to entry or exit exist, in that case the long-run equilibrium price per generic chicken dinner will be approximately: (1) $12. (2) $10. (3) $8. (4) $6. (5) $3.

2435_Market Power and Short Run Economic Profit.png

How can I solve my Economics problem? Please suggest me the correct answer.

View Complete Question

Related Questions in Microeconomics

Q : Long-run equilibrium price paid Pure

Pure competitors in a long-run equilibrium are paid a price which: (i) allows recovery of any previous operating losses. (ii) equals MC although exceeds average cost. (iii) maximizes average revenue minus average cost. (iv) equals maximum long run ave

Q : Relatively less elasticity of demand

Relative to demand curve D0D0, demand curve DD: (i) is relatively more elastic than D0D0 at a price of P1. (ii) is relatively more elastic than D0D0 at a price of P2. (iii) is relatively less elastic fo

Q : Sole proprietorships and partnerships

The Sole proprietorships and partnerships account for the ________ percent of all U.S. firms and a _________ percent of sales by the U.S. firms: (1) Large; small. (2) Large; large. (3) Small; small. (4) Small; large. Find out the r

Q : Price ceilings and price floors Price

Price ceilings and price floors: 1) cause surpluses and shortages respectively. 2) make the rationing function of free markets more efficient. 3) interfere with the rationing function of prices. 4) shift demand and supply curves and therefore have no effect on the rat

Q : Define aggregate demand Define

Define aggregate demand: Aggregate demand is stated as the money value of total goods and services demanded by an economy throughout a particular period.

Q : Microeconomics Assignment Please give

Please give me a quote for this uploaded assignment. I need it by the 10th of may 2013. Thank You

Q : Capital intensive forms of production

Can someone please help me in finding out the accurate answer from the following question. Associative to firms that do not practice the wage discrimination, firms which wage-discriminate tend to: (1) Forego highest gains by hiring the less productive workers. (2) Dis

Discover Q & A

Leading Solution Library

Avail More Than 1455451 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1929095
Asked

3,689

Active Tutors

1455451

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment