« previous next »

Author Question: In a two-agent and two-good economy, a competitive market equilibrium occurs when A) the agents' ... (Read 20 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jul 1, 2018
In a two-agent and two-good economy, a competitive market equilibrium occurs when
 
  A) the agents' indifference curves are tangent to the price line.
  B) the agents' marginal rate of substitution are zero.
  C) the excess supply exceeds the excess demand.
  D) the agents' indifference curves intersect the price line.

Question 2

In the short run, average variable costs are minimized when
 
  A) MPL equals APL.
  B) APL is maximized.
  C) MPL is maximized and APL is increasing.
  D) Both A and B.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


b614102004

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

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

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Non-competitive inhibition Non-competitive inhibition
The medical assisting profession offers many settings in which to pursue your career. Good communica The medical assisting profession offers many settings in which to pursue your career. Good communica
Are good deeds selfish? Are good deeds selfish?
The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ... The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ...
Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ... Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ...
Iraqi market Iraqi market
Video: Condensation and Hydrolysis Animation

For a complete list of videos, visit our video library