Purely-competitive long-run equilibrium price

The typical firm produces in a purely-competitive long-run equilibrium where price equals as: (1) short-run average cost. (2) marginal cost. (3) long-run average cost. (4) average revenue per unit. (5) All of the above.

Hey friends please give your opinion for the problem of Economics that is given above.

View Complete Question

Related Questions in Microeconomics

Q : Lowering price of units selling A

A monopolist which does not price discriminate faces a marginal revenue curve which slopes down quicker than its demand curve since: (w) economies of scale are significant. (x) selling more needs lowering the price of

Q : Production cost according to

The global wide demand for bicycles would be least probable to be influenced if: (1) Rises in incomes in less developed countries permitted a lot of people to purchase automobiles. (2) Couch-potatoes start heeding their doctor’s suggestion to ex

Q : Profit Maximization problem Can someone

Can someone help me in finding out the right answer from the given options. The Firms adjust their inputs of the labor or other resources till: (1) Revenue is maximized. (2) Employment is maximized. (3) Marginal product of the labor is maximized. (4) Gain is maximized

Q : Simple circular flow model The simple

The simple circular flow model illustrates that: A) households are on the buying side of both product and resource markets. B) businesses are on the selling side of both product and resource markets. C) households are on the selling side of the resource market and on

Q : Implications of law of demand what are

what are the implications of law of demand to the government,household and business

Q : Problem on cost curve The following

The following diagram illustrates the short-run average total cost curves for five different plant sizes of any firm. The shape of each curve reflects: 1) increasing returns, followed by diminishing returns. 2) economies of scale, followed by diseconomies of scale. 3)

Q : Effect of decreases price ceiling on a

A government decrease of the price ceiling upon a good will: (w) result in a decrease into the excess demand for the good. (x) result within an increase in the excess demand for the good. (y) lead to a greater quantity supplied. (z) cause a reduction

Q : Effect of Increase in per capita income

Rises in per capita income in the United States would be most probable to reduce the: (i) Demands for lard, pinto beans, and utilized tires. (ii) Excesses in the federal govt. budget. (iii) Supply of untrained labor relative to skilled labor. (iv) Tot

Q : Well-recognized market structure

Well-recognized market structures do not comprise: (i) monopoly. (ii) monopolistic competition. (iii) oligopoly. (iv) oligarchy. (v) pure or perfect competition. I need a good answer on the topic of Economi

Q : Exclusivity ratio of ratio while price

The percentage change within quantity supplied divided through the percentage change within price is an approx measure of a good's: (w) unitary margin. (x) price elasticity of supply. (y) exclusivity ratio. (z) price elasticity of demand.

Discover Q & A

Leading Solution Library

Avail More Than 1416520 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1934303
Asked

3,689

Active Tutors

1416520

Questions
Answered

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

Submit Assignment