Economics 2120 Part II Test 2 Fall 2023 Professor Santos Q1. Illustrate a firm in...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Economics 2120 Part II Test 2 Fall 2023 Professor Santos Q1. Illustrate a firm in perfect competition earning a normal profit in the short-run, indicate price and output quantity. Can a perfectly competitive firm make economic profit in the long run? Value 8 and Q2. Illustrate an industry in the long run with an economy of scales (decreasing costs). Indicate where the economy of scales begins or occurs on the LRAC. What 2 factors might contribute to economy of scales for this industry. Provide an example of a real-world firm or industry. Value 8 points. Part II of Test 2 is due Thursday November 2. Group work is acceptable for part 2 of the test and can be done prior to the test date. Students can also do this part of test 2 on November 2 exam time. .02423
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.