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

Author Question: A firm's long-run average cost curve is derived by adding together its short-run average total cost ... (Read 110 times)

tth

  • Hero Member
  • *****
  • Posts: 579
on: Jun 29, 2018
A firm's long-run average cost curve is derived by adding together its short-run average total cost curves.
 
  Indicate whether the statement is true or false

Question 2

The recent availability of satellite television has reduced the price of cable television subscriptions. Based on this statement, what may be concluded about price, cross-price, or income elasticity of demand?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kescobar@64

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

The availability of a substitute will likely increase the price elasticity of demand for Cable TV. The cross-price elasticity of satellite TV and cable TV is positive, suggesting that these goods are substitutes.


tth

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
:D TYSM

zacnyjessica

  • Member
  • Posts: 345
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Population predictions for 2000–2050, using three different total fertility rates ( Population predictions for 2000–2050, using three different total fertility rates (
The rate of evolution in short­ and long­lived plants The rate of evolution in short­ and long­lived plants
The adolescent growth spurt in humans is seen as a “bump” in the height curve and a “spike” in the h The adolescent growth spurt in humans is seen as a “bump” in the height curve and a “spike” in the h
Adding Volume to Your Meals Aids Weight Loss Adding Volume to Your Meals Aids Weight Loss
The Radioactive Decay Curve The Radioactive Decay Curve
Average Precipitation Acidities and the Effects of Acid Rain Average Precipitation Acidities and the Effects of Acid Rain
Video: Diversity of Living Creatures - Charles Darwin & the Beagle's Voyage

For a complete list of videos, visit our video library