ECN 360 Grand Canyon Week 2 Discussion

ECN 360 Grand Canyon Week 2 Discussion

ECN360

ECN 360 Grand Canyon Week 1 Discussion 1

The long-run equilibrium for a perfectly competitive firm is zero-profit equilibrium. Does this mean that owners of these firms have no income? Explain.

ECN 360 Grand Canyon Week 2 Discussion 2

How does the price and level of output for a monopolist differ from that of a purely competitive firm? Is this due to differences in the cost of doing business? Do these differences provide a rationale for anti-trust legislation? Explain.