« previous next »

Author Question: In a two-agent and two-good economy, a competitive market equilibrium occurs when A) the agents' ... (Read 48 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?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Selected Hypothalamic and Pituitary Agents Selected Hypothalamic and Pituitary Agents
Creating a Continental Economy Creating a Continental Economy
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
Consider a two-period economy with no investment opportunities: first and second period output ... Consider a two-period economy with no investment opportunities: first and second period output ...
Competitive firms and maximization Competitive firms and maximization
Video: Egg and Sperm Formations in Animals Animation

For a complete list of videos, visit our video library