Ans1) the correct option is a) bricks
Ans2) the correct option is b) is making a long run decision
Ans3) the correct option is b) usually greater than economic profit
Ans4) the correct option is c) firms will employ labor intensive production techniques
please do 123456 correctly Question 1 (1 point) An example of an intermediate product is O...
Question 5 Positive economic profit is the money income of the firm's owner the excess of revenues over explicit coststhe excess of revenues over implicit costsa signal for firms in other industries to expand their outputa signal for resources to enter the industry in the long run' Question 6 Which of the following is the best measure of productivity? total profit per unit of output total output per dollar of revenue total output per hour total output total output per unit of resource input
These three questions please! Question 32 (1 point) Because a monopolistically competitive firm has some market power, in the long-run what does the price of its good exceed? its average u its average total cost its marginal cost its profit per unit Question 33 (1 point) In monopolistically competitive markets, what does the property of free entry and exit suggest? The market structure will eventually be characterized by perfect competition in the long run. O All firms earn zero economic...
Suppose a firm doubles the amount of all of its factors of production and, as a result, output increases from 100 to 300 units. This firm is operating under Increasing cost Decreasing costs Long-run decreasing returns Decreasing total cost Diseconomies of scales Positive economic profit is The excess of revenues over implicit costs A signal for firms in other industries to expand their output A signal for resources to enter the industry in the long run The excess of revenues...
TRUE OR FALSE TF DO 1. In a price-taker market, all firms produce an identical product and each firm comprises only a very small portion of the total market. 2. If a price-taker firm wants to sell its output, it must accept the market price, but it can sell as much output as it wishes at that market price. O N 3. For a price-taker firm, its marginal revenue from the sale of an addi- tional unit is generally less...
These three questions please Question 37 (1 point) Table 16-1 A monopolistically competitive firm faces the following demand curve for its product: Price (S) 10 4 8 7 6 16 8 10 5 12 4 14 3 16 2 18 20 1 Refer to Table 16-1. The firm has total fixed costs of $20 and a constant marginal cost of $5 per unit. What will the firm do? It will produce 2 units; firms will exit the market in the...
all of them Question 1 (1 point) A firm producing a positive output level, covering variable costs but making a loss in the short run O may nonetheless be doing the nest it can with respect to its profits O should exit the industry O should definitely shut down O is not maximizing profits O should either expand or contract its plant size Question 2 (1 point) The perfectly competitive firm's profits can be calculated as O (MR-ATC)Q O (P-AVC-AFC)Q....
Question 22 (1 point) In a Bertrand model with identical firms and a homogenous product, price will increase in response to a decrease in the number of firms. a firm's best-response function is identical to its rival. with a homogenous product, market power is a function of the number of firms with identical firms and a homogenous product, price will increase in response to an increase in marginal cost O equilibrium price is equal to the competitive price. Question 21...
Please help with these questions, Question 11 0.16 pts If Firm A is making zero economic profits, Firm A is breaking even when opportunity cost is taken into consideration. O Firm A is also making negative accounting profits. other firms want to enter the market. Firm A wants to shut down in the short run. O Firm A wants to leave the market. Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run...
Please help Question 12 0.16 pts If firms in a competitive market are making positive economic profits, the long-run market supply curve O is above the point where the short-run market supply curve and the demand curve intersect. O shifts downward. O and the short-run market supply curve and the demand curve all intersect at the same point. O shifts upward. O is below the point where the short-run market supply curve and the demand curve intersect. Question 13 0.16...
Question 28 (1 point) What is the greatest difficulty with cost-benefit analysis of a public project? determining whether government revenue is sufficient to cover the cost of the project O determining whom to award the project contract determining the cost of the project determining the value or benefit of the project Question 29 (1 point) Saved What effect does a tax levied on the buyers of a product have? O It shifts the supply curve upward (or to the left)....