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Monopolistically competitive firms may not be able to produce goods at the lowest possible average cost. This statement is describing how monopolistically competitive firms might be?
Linam79
without economies of scale
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∙ 8y ago
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In a perfectly competitive market a firm has to be either good or lucky?
This statement implies a firm must maintain proficiency in order to subsist in a perfectly competitive market. In perfectly competitive marketplace all prices are established by through supply/demand. Some firms may be a little on the lucky side while others may just be good. I will take luck any day however, at some point luck runs out and you better have learned something from your luck and apply it to being good. A firm in a competitive market must be efficient and find methods of production which yield the correct number of outputs and maintain fixed and variable cost of production at marginal levels.
Is this a positive statement or normative statement The minimum wage creates unemployment among young and unskilled workers?
It is a positive statement.
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a statement made in public to the public, or people
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A normative statement in economics is like a normative statement in any other academic subject--it is a statement about something with an implicit value judgment or moral claim. It is distinct from a descriptive statement that is supposed to be value/ideologically neutral. For example, a descriptive statement in economics could be something like, 'Social Security is set to go bankrupt by 2050.' Whereas a normative statement would be something like, 'Social Security is set to go bankrupt by 2050 and thus must be saved to prevent a huge boom in elderly poverty.'
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the title
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Laws
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What is a statement describing events in nature?
hypothesis
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No pain, no gain!
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Chief Complaint
What is a statement describing the reason for encounter and is a history element?
Chief Complaint
What is a formal statement naming the plaintiff and defendant and describing the nature of the lawsuit?
complaint
What is a formal statement naming the plaintiff and the defendant and describing the nature of the lawsuit.?
complaint
What is a formal statement naming the plaintiff and the defendant and describing the nature of the lawsuit?
complaint
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See related links for a video clip describing the Gosselin family mission statement. It shows the statement, but does not go through it word for word.
How would you write to a unknown audience?
by describing yourself fully and completely make a statement
