« previous next »

Author Question: In the short run, a perfectly competitive firm's most profitable level of output is where: a. ... (Read 30 times)

Alygatorr01285

  • Hero Member
  • *****
  • Posts: 564
on: Jun 30, 2018
In the short run, a perfectly competitive firm's most profitable level of output is where:
 a. marginal cost exceeds marginal revenue.
  b. total revenue is at a maximum.
  c. marginal cost equals marginal revenue.
  d. All of these.

Question 2

If the cross-elasticity of demand for two goods is negative, this means that:
 a. only the poor will buy the goods.
  b. they are normal goods.
  c. the goods are substitutes.
  d. the goods are complements.


fdliggud

  • Sr. Member
  • ****
  • Posts: 366
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

How the study of genomes and proteomes can provide us with connections to different biological level How the study of genomes and proteomes can provide us with connections to different biological level
Comparison of the level of skin damage as a result of the three different degrees of burns. Comparison of the level of skin damage as a result of the three different degrees of burns.
The major cortical input and output pathways of the posterior parietal association cortex. Shown are ... The major cortical input and output pathways of the posterior parietal association cortex. Shown are ...
Rapid sea level rise Rapid sea level rise
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
British Output and Productivity Growth, 1760–1913 British Output and Productivity Growth, 1760–1913
Video: Phases of the Female Reproductive Cycle - Hormonal regulation

For a complete list of videos, visit our video library