This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A perfectly competitive industry always has a perfectly elastic (flat) long-run supply curve. a. ... (Read 197 times)

naturalchemist

  • Hero Member
  • *****
  • Posts: 542
on: Jun 30, 2018
A perfectly competitive industry always has a perfectly elastic (flat) long-run supply curve.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the marginal utility of each good consumers buy does not diminish but remains constant, we should witness consumers:
 a. buying no goods at all.
  b. spending all of their income on the good with the highest MU.
  c. buying one of each good.
  d. buying only the least expensive goods.
  e. become indifferent to what goods they buy.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

b


naturalchemist

  • Hero Member
  • *****
  • Posts: 542
Reply #2 on: Jun 30, 2018
Thank you


chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per
Female roundworm. Roundworms have long, cylindrical bodies with a tough covering. Eggs laid by the ... Female roundworm. Roundworms have long, cylindrical bodies with a tough covering. Eggs laid by the ...
How long does exercise affect blood sugar? How long does exercise affect blood sugar?
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra. Greater Long-nosed Tree Shrew (Tupaia tana), Borneo and Sumatra.
Demographic transition model for changes in population growth rates and sizes, correlated with long- Demographic transition model for changes in population growth rates and sizes, correlated with long-
Video: Fetal development - Weeks 9 to 38

For a complete list of videos, visit our video library