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

Author Question: A firm's short-run supply curve is the same as _____ if it produces the good. A. its marginal ... (Read 60 times)

nmorano1

  • Hero Member
  • *****
  • Posts: 598
on: Jun 29, 2018
A firm's short-run supply curve is the same as _____ if it produces the good.
 
  A. its marginal revenue curve
  B. the upward-sloping part of its marginal cost curve
  C. its marginal cost curve above minimum average variable cost
  D. its marginal cost curve above minimum average total cost

Question 2

Refer to Table 4-1. The table above lists the highest prices three consumers, Tom, Dick, and Harriet, are willing to pay for a short-sleeved polo shirt. If the price of one of the shirts is 28 dollars
 
  A) Tom will receive 12 of consumer surplus from buying one shirt.
  B) Harriet will receive 25 of consumer surplus since she will buy no shirts.
  C) Tom will buy two shirts, Dick will buy one shirt and Harriet will buy no shirts.
  D) Tom and Dick receive a total of 70 of consumer surplus from buying one shirt each. Harriet will buy no shirts.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Brummell1998

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

C Figure 11.5 in the text illustrates that answer C is correct.

Answer to Question 2

A


nmorano1

  • Member
  • Posts: 598
Reply 2 on: Jun 29, 2018
Excellent

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Faulty outlooping produces lambda phage containing bacterial DNA Faulty outlooping produces lambda phage containing bacterial DNA
Dissolution of the Geosphere Produces Karst Terrain Dissolution of the Geosphere Produces Karst Terrain
Hormones acting through the brain help regulate metabolism and short- and long-term appetite. Hormones acting through the brain help regulate metabolism and short- and long-term appetite.
Good alignment for sitting posture. Good alignment for sitting posture.
Blood Supply of the Liver Blood Supply of the Liver
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Nucleic acid digestion - brush border enzymes, end products & transport mechanism

For a complete list of videos, visit our video library