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Author Question: A dominant firm's residual demand curve is A) the horizontal difference between the market demand ... (Read 152 times)

jwb375

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A dominant firm's residual demand curve is
 
  A) the horizontal difference between the market demand curve and the supply curve of the fringe firms.
  B) the vertical difference between the market demand curve and the supply curve of the fringe firms.
  C) the demand curve left for the fringe firms after the dominant firm has determined an output level.
  D) None of the above.

Question 2

Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at 0.20 per pound when 500 pounds are grown. The demand for potatoes is Q = 10,000/p. If the long-run supply curve is horizontal, then how many pounds of potatoes will be consumed in total?
 
  A) 0
  B) 500
  C) 10,000
  D) 50,000


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ndhahbi

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jwb375

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review


amit

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

 

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