« previous next »

Author Question: What is a price floor?[br][br][b][color=#347235]Question 2[/color][/b][br][br]Irrespective of the ... (Read 84 times)

erika

  • Hero Member
  • *****
  • Posts: 522
on: Jun 30, 2018
What is a price floor?

Question 2

Irrespective of the market structure, a firm maximizes profit at the level of output where the price of its product equals its marginal cost.
 a. True
  b. False
  Indicate whether the statement is true or false


mjenn52

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 30, 2018
Answer to Question 1

A legislation fixing the minimum price of a commodity above the market-clearing or the equilibrium price is called a price floor.

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

erika

  • Hero Member
  • *****
  • Posts: 522
Reply #2 on: Jun 30, 2018
Correct answers!


mjenn52

  • Sr. Member
  • ****
  • Posts: 351
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

How to solve application problems containing quadratics (Question 1) How to solve application problems containing quadratics (Question 1)
The Phytochemical Color Guide The Phytochemical Color Guide
A question for grade 11 math A question for grade 11 math
Dark Green Eye Color Dark Green Eye Color
economic question economic question
chem question chem question
Video: Nervous pathway to the Neuromuscular (NMJ)

For a complete list of videos, visit our video library