Author Question: A perfectly competitive firm's short-run supply curve is the part of its marginal cost curve that ... (Read 123 times)

xclash · **on:** Jun 30, 2018

A perfectly competitive firm's short-run supply curve is the part of its marginal cost curve that is:
a. upward sloping.
b. above the minimum level of average variable cost.
c. above average fixed cost.
d. both a and b.

Question 2

Price elasticity remains constant along a straight-line demand curve.
a. True
b. False
Indicate whether the statement is true or false