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yellowcat461Lv1
28 Sep 2019
1.
a. Explain the relationship between the law of diminishing marginalreturns and the shape of a firmâs marginal cost curve?
b. The long-run equilibrium for a perfectly competitive industryoccurs when the firms are earning economic profits of zero. Whywould firm stay in business if it is making zero economicprofits?
c. Should governments outlaw monopolistic competition in theinterests of efficiency? Why or why not?
1.
a. Explain the relationship between the law of diminishing marginalreturns and the shape of a firmâs marginal cost curve?
b. The long-run equilibrium for a perfectly competitive industryoccurs when the firms are earning economic profits of zero. Whywould firm stay in business if it is making zero economicprofits?
c. Should governments outlaw monopolistic competition in theinterests of efficiency? Why or why not?
a. Explain the relationship between the law of diminishing marginalreturns and the shape of a firmâs marginal cost curve?
b. The long-run equilibrium for a perfectly competitive industryoccurs when the firms are earning economic profits of zero. Whywould firm stay in business if it is making zero economicprofits?
c. Should governments outlaw monopolistic competition in theinterests of efficiency? Why or why not?
Retselisitsoe PokothoaneLv10
28 Sep 2019
