In the Long Run Which of the Following Is True

Use the following two statements about monopolistic competition to answer this question. Which of the following statements about the short run and long run is true.

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In the long run the quantities of all inputs are fixed.

. A In the long run there will be at least one factor of production which is fixed. Transcribed image text. A It is fixed at a level that recovers the variable cost of the company and a pre-determined profit markup.

Which of the following is true in the long run as depicted in the figure showing the effects of an expansionary monetary policy. B It is generally a function of the market factors and the cost involved in production is generally not a consideration. Which of the following is true A Long run aggregate supply is independent of the from ECN 01B at University of California Davis.

School University of Illinois Urbana Champaign. Price equals marginal revenue and marginal cost. B I is true and II is false.

None of these is true in the long run. Marginal cost equals zero. B Free entry and exit of firms is possible in the short run but entry and exit of firms is.

Total cost equals fixed cost. B In the short run all factors of production are variable. In the long run the firms fixed costs are greater than its variable costs.

Total cost fixed cost variable cost. A The number of firms in the industry is fixed in the short run but in the long run the number can change. A I and II are true.

If a firm organized as a corporation is making long run decisions which of the following is true. Constant returns to scale. ATC AVC and AFC may be.

Which of the following is true in the long run. If a factor of production. The costs to produce your products are 12000 for rent 6000 for utilities and 42000 for employee wages.

If the market demand curve shifts to the right Which of the following statements is true in the short run. Price level P LRAS SRASZ SRAS 110 с 105 b 100 A AD2 AD 18 185 Real GDP Y in trillions of dollars u u usu Correct Answers Real GDP returns to its original level. D In the short run all factors of production are variable.

In the long run the price of the good will equal the minimum of the average cost. Each existing firm produces two more units per hour. The market is in equilibrium at point A where 100 identical firms produce 6 units of a product per hour.

ATC AVC and AFC is downward sloping. In the long run the average cost curve is always downward sloping. Which of the following is true of long-run pricing.

Total cost is constant. All costs are variable. Each firms output is at the point that minimizes its long-run average cost.

In the short run which of the following is true about the average variable cost from EC SUPPLY AND at London School of Economics. Given barriers to entry the firm earns economic profits in long-run equilibrium. Which of the following is true at the long-run equilibrium in a monopolistically competitive market.

D I and II are false. Each firm earns zero economic profit. There is neither allocative nor productive efficiency.

This preview shows page 4 - 6 out of 6 pages. In the long run all costs are variable costs. There are no fixed costs.

When a firms long-run average total cost falls as its output increases the firm is experiencing Select one. Course Title ECON 102. Which of the following is true for a firm in long-run equilibrium in monopolistic competition.

In the short run firms may earn a profit. The firm can vary its explicit costs but not its implicit costs. In the long run which of the following is true.

A In the long run the average cost curve is always downward sloping. ATC AVC and FC are some constant amount. Unemployment returns to its original level.

Pages 6 Ratings 100 4 4 out of 4 people found this document helpful. The long run average cost curve can be found as the MC from above the shut down point onward. Which of the following occurs in the long run The correct answer is A NEW MOVIE.

Which of the following is true A Long run aggregate supply is independent of the from ECONOMICS 1B at University of California Davis. The firm is productively efficient producing at the minimum of long-run average total cost. True False True Your companys total sales revenue for the month is 150000.

C It is a strategic decision designed to build long-run relationships with customers based on stable and. In the long run the total variable cost equals the total fixed cost. C I is false and II is true.

Price returns to its. B In the long run the quantities of all inputs are fixed. O True O False Figure 95 Figure 95 shows the short run and long run effects of an increase in demand of an industry.

All of the above. The long run average cost curve is shaped like a bell and rises. Students who viewed this also.

The size of a firms physical plant can be changed but the firm cannot adopt new technology. Which of the following occurs in the long run the. A basic distinction between the long run and the short run is that IN THE SHORT RUN COMPLETE ADJUSTMENT OF ALL INPUTS IS IMPOSSIBLE WHILE IN THE LONG RUN ALL INPUTS CAN BE ADJUSTED DURING THE SHORT RUN A FIRM CANNOT.

Price is equal to marginal cost. Which of the following is true of the long run Phillips curve A It shows there from ECON 103 at Squalicum High School. Which of the following statements is true.

The long run average cost curve is comprised of all the lowest points of each of the short run average cost curves because no firm will operate at a level of higher per-unit costs in the long run than in the short run. Which of the following statements is true. C In the long run there are no fixed factors of production.

Which of the following statements about the long and short. Implicit costs are the firms opportunity costs of using its self-owned self-employed resources.

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