![subject](/tpl/images/cats/ap.png)
Advanced Placement (AP), 07.12.2021 05:10 jrjimenez
Please help me quickly, I’m stuck on this problem here.
FRQ: Rice is produced in a perfectly competitive industry. Grand Farm is a typical firm in the rice industry earning a positive economic profit.
(a) Using correctly labeled side-by-side graphs for the rice industry and Grand Farm,
show each of the following in the short run.
(i) The industry price and quantity, labeled Pm and Qm
(ii) Grand Farm's demand curve and marginal revenue curve, labeled Df and MRf
(iii) Grand Farm's quantity of output, labeled Qf
(iv) Grand Farm's profit, shaded completely
(b) In the long run, what happens to each of the following?
(1) The number of firms in the industry. Explain.
(ii) The equilibrium price does it increase, decrease, or remain the same relative
to Pm?
![ansver](/tpl/images/cats/User.png)
Answers: 2
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Other questions on the subject: Advanced Placement (AP)
![image](/tpl/images/cats/ap.png)
![image](/tpl/images/cats/ap.png)
![image](/tpl/images/cats/ap.png)
Advanced Placement (AP), 27.06.2019 03:00, cheergirlkr4746
Wich of the five senses is excluded as a function of the thalamus
Answers: 1
![image](/tpl/images/cats/ap.png)
Advanced Placement (AP), 27.06.2019 08:00, mariaaalopezz
North american deer eat the leaves of shrubs and trees. american bison eat vegetation near the ground. both of these animals are prey to wolves and bears. which of the following human activities would most likely result in the growth of the north american deer population? a) increased bison hunting b) decreased clearing of land for farming c) decreased bear hunting d) decreased city building e) increased wolf hunting
Answers: 1
You know the right answer?
Please help me quickly, I’m stuck on this problem here.
FRQ: Rice is produced in a perfectly compe...
Questions in other subjects:
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 02.09.2021 16:00
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/himiya.png)
![Konu](/tpl/images/cats/en.png)
![Konu](/tpl/images/cats/biologiya.png)
![Konu](/tpl/images/cats/ap.png)
Advanced Placement (AP), 02.09.2021 16:00
![Konu](/tpl/images/cats/fizika.png)
Physics, 02.09.2021 16:00
![Konu](/tpl/images/cats/en.png)
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 02.09.2021 16:00