ibmie profits accounting profit+ explicit cost , accounting profits economic pro
ID: 1129868 • Letter: I
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ibmie profits accounting profit+ explicit cost , accounting profits economic profit -implicit costs accounting profit-economic profit + implicit costs d. economic profit accounting profit - explicit costs 15. How do perfectly competitive firms and monopolists differ? a. A perfectly competitive firm's short-run profit is always zero; a monopolist can positive short-run profit. have a b. A perfectly competitive firm's marginal-revenue marginal-revenue curve is downward sloping. curve is perfectly elastic, a monopolist's A perfectly competitive firm cannot choose its level of output; a monopolist chooses its c. level of output. d. A perfectly competitive firm sets average revenue equal to marginal cost; a monopolist sets average revenue equal to marginal revenue. If cigarettes and marijuana had been found to be substitutes, what would a tax placed on cigarettes do a. increase the demand for marijuana b. 16. decrease the demand for marijuana c. increase the quantity demanded of marijuana d. decrease the quantity demanded of marjuana Which of the following events would NOT shift the labour supply curve? a. changing attitudes towards work 17. changes in alternative opportunities increases in worker productivity immigration of workers b. c. d.Explanation / Answer
15.B (perfectly competitive firms earns maximum at short run,and its marginal revenue =marginal cost)
16.A(it will increase demand of marijuana)
17.B(remaining all changes the supply curve,attitude(in case of women earlier used to raise now working),if they have better opportunity in other they shift to other jobs)
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