This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: An industry has 1000 competitive firms, each producing 50 tons of output. At the current market ... (Read 76 times)

laurencescou

  • Hero Member
  • *****
  • Posts: 593
on: Jul 1, 2018
An industry has 1000 competitive firms, each producing 50 tons of output. At the current market price of 10, half of the firms have a short-run supply curve with a slope of 1; the other half each have a short-run supply curve with slope 2.
 
  The short-run elasticity of market supply is A) 1/50
  B) 3/10
  C) 1/5
  D) 2/5
  E) none of the above

Question 2

Unequal outcomes are inherently unfair.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nmyers

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

F


laurencescou

  • Member
  • Posts: 593
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

The testes. In addition to producing sperm, the testes secrete the male sex hormones, primarily test The testes. In addition to producing sperm, the testes secrete the male sex hormones, primarily test
Current FDA Pregnancy Category Ratings with Examples Current FDA Pregnancy Category Ratings with Examples
Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
Main Hall, Trajan's Market Main Hall, Trajan's Market
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Video: Structures that affect circulation - kidneys, blood volume and venous tone

For a complete list of videos, visit our video library