A perfectly competitive industry must have a perfectly elastic ...

[TVarnum]

A perfectly competitive industry must have a perfectly elastic long-run supply curve.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

On Thanksgiving, Jake's mother gives him a huge platter of food. If Jake were to keep eating just to please his mother (even when he really wanted to stop), his marginal utility would be:
 a. the same as his total utility.
  b. large.
  c. minus one.
  d. positive.
  e. negative.

[amcvicar]

Answer to Question 1

False

Answer to Question 2

e

[TVarnum]

Thanks for the timely response, appreciate it

[ghepp]

Great answer, keep it coming