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Author Question: The flatter the slope of the supply curve the lower will be the price elasticity of supply. ... (Read 106 times)

mwit1967

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on: Jun 30, 2018
The flatter the slope of the supply curve the lower will be the price elasticity of supply.
  Indicate whether the statement is true or false

Question 2

Suppose at a certain quantity of output, a firm's average-total-cost curve lies above its demand curve. At this quantity of output, the firm:
 a. is earning negative economic profit.
  b. is earning zero economic profit.
  c. is maximizing profit.
  d. should increase its output to maximize profit.
  e. should reduce output to maximize negative economic profit.


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rnehls

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Reply #1 on: Jun 30, 2018
Answer to Question 1

F

Answer to Question 2

a


mwit1967

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

tkempin

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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