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Author Question: A perfectly competitive industry must have a perfectly elastic long-run supply curve. a. True b. ... (Read 550 times)

TVarnum

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on: Jun 30, 2018
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.


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amcvicar

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

False

Answer to Question 2

e


TVarnum

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

nanny

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Reply 3 on: Yesterday
Excellent

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