Business
Business, 22.10.2019 22:30, nacgrading3p6d8pf

Which of the following conditions guarantee that a firm will achieve productive efficiency in the long run? check all that apply. the market price is equal to the minimum long-run average cost. there are multiple firms in the market. the total cost of production is equal to the total benefit to consumers on all units sold. the market for its product is perfectly competitive.

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Business, 04.07.2019 20:10, hi510hello
Below are eight descriptions of firms operating under various market conditions. for each item, determine whether the market is a monopoly or a market with perfect competition. items: a. a firm in this market has no competitors b. a firm in this market produces where p = mc c. a firm in this market produces where p > mc d. a firm in this market cannot earn long-run economic profits e. a firm in this market is one of many small competitors f. a firm in this market may earn long-run economic profits g. a firm in this market has significant market power
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Business, 07.11.2019 00:31, sswaqqin
Does the market system result in productive efficiency? in the long run, perfect competition a. does not result in productive efficiency because barriers to entry result in firms making a profit. b. results in productive efficiency because firms enter and exit until they break even where price equals minimum average cost. c. does not result in productive efficiency because price-taking firms produce where price equals marginal cost. d. results in productive efficiency because every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing it. e. results in productive efficiency because production represents consumer preferences
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