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Author Question: An industry has 1000 competitive firms, each producing 50 tons of output. At the current market ... (Read 70 times)

laurencescou

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on: Jul 1, 2018
An industry has 1000 competitive firms, each producing 50 tons of output. At the current market price of 10, half of the firms have a short-run supply curve with a slope of 1; the other half each have a short-run supply curve with slope 2.
 
  The short-run elasticity of market supply is A) 1/50
  B) 3/10
  C) 1/5
  D) 2/5
  E) none of the above

Question 2

Unequal outcomes are inherently unfair.
 
  Indicate whether the statement is true or false


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nmyers

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

F


laurencescou

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Reply 2 on: Jul 1, 2018
:D TYSM

mcarey591

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Reply 3 on: Yesterday
Gracias!

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