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The maximum loss for a firm in long-run equilibrium is
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When firms have an incentive to exit a competitive market, which of the following effects will their exit have?
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Suppose that a perfectly competitive industry is in long-run equilibrium. Then the price of a complement good decreases. What will happen?
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In which one of the following situations will a perfectly competitive firm earn positive economic profit?
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Consider the hardest configurations of the 2x2x2 Rubik's cube.  There are 276 configurations that requires 14 quarter turns to be solved optimaly.  How many of those have the front face entirely white?

(You should assume the white square with the Rubik's cube logo is always on the front face, as we did in the video.)

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The 2x2x2 Rubik's cube has 3674160 possible configurations.  For 276 of those configurations, the optimal solve requires 14 quarter-turns.  (We consider that a half-turn counts as two quarter-turns.)

If I pick a random configuration out of the 3674160 possible configurations, what is the expected number of quarter-turns required to solve that configuration in the optimal way?  In other words, what is the average number of turns among the optimal solution of all possible configurations?

You can round your result to two decimal places.

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Consider the short-run supply curve for a perfectly competitive industry. In general, which of the following statements are true?
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Suppose your trucking firm in a perfectly competitive industry is making zero economic profits in the short run. The federal government imposes a new safety regulation that affects all firms, thus shifting the marginal cost curve upward. As a result your firm's profit maximizing short-run output will
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The perfectly competitive firm's demand curve is not
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Why will a perfectly competitive firm not sell its product below the prevailing market price?
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