« previous next »

Author Question: Gains from trade will be possible as long as A) levels of utility differ. B) utility functions ... (Read 121 times)

tnt_battle

  • Hero Member
  • *****
  • Posts: 556
on: Jul 1, 2018
Gains from trade will be possible as long as
 
  A) levels of utility differ.
  B) utility functions differ.
  C) marginal rates of substitution differ.
  D) endowments differ.

Question 2

Suppose the total cost of producing T-shirts can be represented as TC = 50 + 2q. Which of the following statements is TRUE at all levels of production?
 
  A) MC = AVC
  B) MC = AC
  C) MC > AFC
  D) All of the above.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


strudel15

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

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

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Colonial Trade with England, 1700–1774 Colonial Trade with England, 1700–1774
How to find the derivatives of inverse trigonometric functions (Part 1) How to find the derivatives of inverse trigonometric functions (Part 1)
Composition of a long bone Composition of a long bone
Functions and Properties of Blood Functions and Properties of Blood
Summary of Functions of Principal Parts of the Brain Summary of Functions of Principal Parts of the Brain
Functions Functions
Video: Primate Evolutionary Tree Animation

For a complete list of videos, visit our video library