« previous next »

Author Question: A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost ... (Read 24 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jun 30, 2018
A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost curve above the:
 a. average total cost curve.
  b. average variable cost curve.
  c. average fixed curve.
  d. average price curve.

Question 2

If demand is perfectly inelastic, then the demand curve will be vertical.
 a. True
  b. False
  Indicate whether the statement is true or false


wtf444

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

A sigmoid (cooperative) binding curve A sigmoid (cooperative) binding curve
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
An upward-sloping spark line usually indicates a mechanical engine problem or a lean air–fuel ... An upward-sloping spark line usually indicates a mechanical engine problem or a lean air–fuel ...
Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Minerals are nonrenewable resources in limited supply Minerals are nonrenewable resources in limited supply
The original Supply and Demand graph The original Supply and Demand graph
Video: Metabolic Rate, Heat and Thermoregulation - response to heat and cold stresses

For a complete list of videos, visit our video library