--%>
Assignment Help - homework help

Purely competitive market and constant cost industry

When this firm is typical in illustrated figure of this purely competitive market and when this is a constant-cost industry, in that case the long run supply curve for the industry is a horizontal line which would go from: (1) point c. (2) point d. (3) point e. (4) point f. (5) point g.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Microeconomics

  • Q : Problem on Profit Maximization Can

    Can someone help me in finding out the right answer from the given options. When firms function in purely competitive labor markets that produce a fixed money wage of w, then firms maximize profit by hiring the labor where w = the

    		•
  • Q : Total revenue and price variation in

    While total revenue decreases because of an increase within price the firm is operating into the_________ portion of consumers' demand curve. (1) relatively elastic. (2) relatively inelastic. (3) unitary elastic. (4) perfectly inelast

    		•
  • Q : Purely competitive industry in the long

    For a purely competitive industry in the long run: (i) several firms exit therefore others may earn more than normal profits. (ii) established firms reap higher profits than newer firms. (iii) all resources are fixed for the industry as an entire. (iv

    		•
  • Q : Labor adds uniformly to total revenue

    The entire profit maximizing firm will appoint more labor up to the point where: (i) Average physical product of the labor equivalents the nominal wage. (ii) Last unit of the labor adds up equally to net revenue and net cost. (iii) Marginal product of the labor is at

    		•
  • Q : Price elasticity coefficient at

    Every point beside a vertical demand curve (when there was such a thing) would include a price elasticity coefficient equivalent to: (1) 1. (2)  1. (3) zero. (4) infinity. (5)  1/2. Hey friends please giv

    		•
  • Q : Problem regarding rise in quantity

    Can someone please help me in finding out the accurate answer from the following question. The raise in the quantity supplied of frozen vegetarian lasagna would be most probable to outcome from raise in the: (i) cost of ingredients in the vegetarian lasagna. (ii) Numb

    		•
  • Q : Investment by profit-maximizing pure

    For such illustrated figure profit-maximizing pure competitor, there area aPed shows: (1) fixed cost (TFC). (2) average fixed cost (AFC). (3) the lowest possible economic loss. (4) maximum economic profits. (5) the rate of return on investment. <

    		•
  • Q : Determining type of good An increase in

    An increase in the income of Consumer X leads to fall in demand for that good by that consumer. Name the good X termed? Answer: Inferior good

    		•
  • Q : Total variable costs of

    Total variable costs of this profit-maximizing lumber mill are approximately: (i) $2000 per day. (ii) $2400 per day. (iii) $2800 per day. (iv) $3200 per day. (v) $3600 per day.

    Q : Equilibrium in the long run This would

    This would be a fallacy to suppose that: (w) a purely competitive firm’s demand curve is perfectly elastic. (x) a purely competitive firm’s supply curve is the marginal cost above the minimum point of the AVC. (y) purely competitive firms generate where MR

    		•