This topic contains a solution. Click here to go to the answer

Author Question: In perfect competition, the firm's marginal revenue curve A) cuts its demand curve from below, ... (Read 78 times)

nenivikky

  • Hero Member
  • *****
  • Posts: 516
In perfect competition, the firm's marginal revenue curve
 
  A) cuts its demand curve from below, going from left to right.
  B) cuts its demand curve from above, going from left to right.
  C) always lies below its demand curve.
  D) is the same as its demand curve.

Question 2

Economic efficiency necessarily occurs when the firm
 
  A) produces a given output at least cost.
  B) produces a given output by using the least inputs.
  C) earns a normal profit.
  D) earns an economic profit.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Anton

  • Sr. Member
  • ****
  • Posts: 302
Answer to Question 1

D

Answer to Question 2

A




nenivikky

  • Member
  • Posts: 516
Reply 2 on: Jun 29, 2018
:D TYSM


scikid

  • Member
  • Posts: 300
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

For a complete list of videos, visit our video library