Author Question: If the marginal cost curve is below the average variable cost curve, then A) average variable ... (Read 32 times)

ENagel

  • Hero Member
  • *****
  • Posts: 540
If the marginal cost curve is below the average variable cost curve, then
 
  A) average variable cost is increasing.
  B) marginal cost must be decreasing.
  C) average variable cost could either be increasing or decreasing.
  D) average variable cost is decreasing.

Question 2

A price maker is
 
  A) a consumer who participates in an auction where she announces her willingness to pay for a product.
  B) a firm that is able to sell any quantity at the highest possible price.
  C) a person who actively seeks out the best price for a product that he or she wishes to buy.
  D) a firm that has some control over the price of the product it sells.


moormoney

  • Sr. Member
  • ****
  • Posts: 326
Answer to Question 1

D

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

For a complete list of videos, visit our video library