Module
2 DQ 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.Module
2 DQ 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.
