--%>
Assignment Help - homework help

Purely competitive industry in long run equilibrium

When a purely competitive industry is into long run equilibrium, in that case the total: (w) costs of all the firms’ combined outputs are minimized. (x) revenues of the industry are maximized. (y) welfare of society is at its minimum. (z) economic profit exceeds that for a monopoly.

Hello guys I want your advice. Please recommend some views for above Economics problems.

   Related Questions in Microeconomics

  • Q : Market structure of unregulated monopoly

    An unregulated monopoly is a market structure: (w) which is especially inefficient when price discrimination is practiced. (x) inhabited by several firms, all selling identical goods. (y) composed of a single firm which controls the production and pri

    		•
  • Q : Oligopolistic nature of industries The

    The oligopolistic nature of several industries is probably to be attributable to: (1) overly expansionary macroeconomic policies. (2) corporate instability. (3) economies of scale. (4) cooperative gaming. (5) unstable Nash equilibrium.

    Q : Bilateral Monopoly problem I have a

    I have a problem in economics on Bilateral Monopoly problem. Please help me in the following question. The bilateral monopoly is in operation when: (1) The firm is mere employer of some labor force and a union is the mere supplier of the labor for tha

    		•
  • Q : P/PROVIDE ME ANS IN HINDI BHASA

    Question 1: Describe the main features of Harrod-Domar Growth model. How does the Harrod Domar model describe the occurrence of trade cycles?

    		•
  • Q : Exploitation on resource suppliers Can

    Can someone help me in finding out the right answer from the given options. When resource suppliers are paid less than the values of their marginal products (or VMPs), they are stated to be: (i) Monopolistic. (ii) Exploited. (iii) Monopsonistic. (iv) In equilibrium.

    		•
  • Q : Evalute clothing market Evalute the

    Evalute the statement. Generally People buy clothing in the city where they live. Therefore there is a clothing market in, say, Atlanta that is distinct from the clothing market in Los Angeles. This statement is tr

    		•
  • Q : Determine unskilled labor for minimum

    A minimum legal wage of $5 per hour in this market for unskilled labor would: (w) have no effect on employment or the wages paid. (x) create new jobs for 3,000 unskilled workers. (y) move some low-skilled workers above the poverty line. (z) create une

    		•
  • Q : Coefficient of elasticity of relatively

    Please help me to solve the problem that is given below: A relatively price elastic demand curve would consist of a coefficient of elasticity of as: (w) ep = 1. (x) ep > 1. (y) ep < 1. (z) ep

    		•
  • Q : Problems on leftward shift of demand

    Whenever kids abandon a short-lived fad for Dinosaur action figures, this would be exhibited by the: (1) Left-ward shift of demand curve. (2) Right-ward shift of supply curve. (3) Right-ward shift of demand curve. (4) Left-ward shift of supply curve. (5) Movement down

    		•
  • Q : Strategy of lowering then high price in

    Juan, Celia, Cassie and Gupta operated rival gas stations at 4 corners of an intersection. Every one originally charged similar price for their gasoline but after Gupta slashed his prices, Juan and Celia as well as Cassie all shut down. Gupta in that case boosted pric

    		•