In a decreasing-cost industry, the entry of new firms lowers average cost at each level of output. ...

Author Question: In a decreasing-cost industry, the entry of new firms lowers average cost at each level of output. ... (Read 169 times)

craiczarry

Hero Member
Posts: 527

on: Jun 29, 2018

In a decreasing-cost industry, the entry of new firms lowers average cost at each level of output.

Indicate whether the statement is true or false

Question 2

The marginal rate of substitution is determined by the slope of an indifference curve.

Indicate whether the statement is true or false

InMicro ¦ Hubbard, O'Brien ¦ 1^st Edition

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smrtceo

Sr. Member
Posts: 344

Reply #1 on: Jun 29, 2018

Answer to Question 1

TRUE

Answer to Question 2

TRUE

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craiczarry

Hero Member
Posts: 527

Reply #2 on: Jun 29, 2018

Thank you

smrtceo

Sr. Member
Posts: 344

Reply #3 on: Jun 29, 2018

No problemo

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