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Author Question: A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost ... (Read 68 times)

renzo156

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  • Posts: 526
on: Jun 30, 2018
A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost curve above the:
 a. average total cost curve.
  b. average variable cost curve.
  c. average fixed curve.
  d. average price curve.

Question 2

If demand is perfectly inelastic, then the demand curve will be vertical.
 a. True
  b. False
  Indicate whether the statement is true or false


wtf444

  • Sr. Member
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  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

True


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