Question: True or false? In long-run industry equilibrium no firm will be losing money.

True or false? In long-run industry equilibrium no firm will be losing money.

Step by Step Solution

★★★★★

3.41 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Intermediate Microeconomics Questions!

Q:

Bobcat Company, U.S.-based manufacturer of industrial equipment, just purchased a Korean company that produces plastic nuts and bolts for heavy equipment. The purchase price was Won7,500 million....

Q:

Pollution that increases firm costs - Barney's Solution: Consider the same situation as the one described in exercise 21.9. A: Assume again that the only impact of pollution is that it increases firm...

Q:

Pollution that increases firm costs the Market Outcome: In the text, we assumed for convenience that the ill effects of pollution are felt by people other than producers and consumers. Consider...

Q:

True or False: In the short run, any firm earning a negative profit will shut down.

Q:

True or false? In long-run industry equilibrium no firm will be losing money.

Q:

Question One a)A risk-averse individual is offered a choice between a gamble that pays1000 with a probability of 25% and 100 with a probability of 75%, or a payment of 325. Which would he choose?...

Q:

Question 1: Which of the following is considered a common good? Select all that apply. A. A large tropical forest B. A stock of shrimp in the ocean C. A bag of apples you buy at a farmer's market D....

Q:

1. Explain whether the following statements are TRUE or FALSE. Draw supporting diagrams. Clearly indicate T (for true) and F (for false) in the beginning of the statement. (a)As long as marginal...

Q:

Question: Q1.Table 5.3 Quantity of Workers Total Product Average Physical Product Marginal Physical Product 0 0 1 3 2 7 3 12 4 16 5 18 6 18 In Table 5.3, the average physical product of the 3rd...

Q:

Let us consider a duopoly with homogeneous products, where two competing firms pick price ( Bertrand duopoly ) . Suppose that Dogwood's marginal cost ( MC ) = $ 6 0 6 0 and Rose Petal's marginal cost...

Q:

True or False 1-5: 31. In the long run, a firm performing the same activity as another firm will disappear. (true or false) 32. In general, operational efficiency is something that firms should...

Q:

Briefly describe a business you are familiar with and explain how it might use each of the five ways to adjust its short-term capacity levels.

Q:

person receives SR10,000 today and wants to invest it at 8% per year to be able to withdraw SR2000 every year forever. How long does he has to invest his money?

Q:

A layout study was made in the engineering office of a large aerospace manufac turer. Initially, the study focused on the flow ofwork through the system, but it was difficult to generate meaningful...

Q:

4. Interest rate swaps are over-the-counter instruments.

Q:

Remember T-bone Pickens, the corporate raider? Now hes concerned about his chicken farms, Pickenss Chickens. He feeds his chickens on a mixture of soybeans and corn, depending on the prices of each....

Q:

A genealogical firm called Roots produces its output using only one input. Its production function is f(x) = x. (a) Does the firm have increasing, constant, or decreasing returns to scale? (b) How...

Q:

Mr. Otto Carr, owner of Ottos Autos, sells cars. Otto buys autos for $c each and has no other costs. (a) What is his total cost if he sells 10 cars? _____. What if he sells 20 cars? ______. Write...

Q:

A firm's bonds have a maturity of 8 years with a $1,000 face value, have an 8% semiannual coupon, are callable in 4 years at $1,050.09, and currently sell at a price of $1,097.66. What is their...

Q:

How do I get the units on the right using the left side? ((molm3)n1S1)(Lg)1n=(Lg)

Q:

Problem 1 : Hash table data structure with your own program created similar to the ones provided to answer all the questions insert ( key , value ) , get ( key ) , delete ( key ) , contains ( key ) ,...