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Author Question: What is the relationship between a perfectly competitive firm's marginal cost curve and its ... (Read 53 times)

tingc95

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on: Jun 29, 2018
What is the relationship between a perfectly competitive firm's marginal cost curve and its short-run supply curve?
 
  What will be an ideal response?

Question 2

If inflation is positive and is perfectly anticipated,
 
  A) those that lend money lose. B) those that hold paper money lose.
  C) those that borrow money lose. D) no one in the economy loses.


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b614102004

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The marginal cost curve of a perfectly competitive firm is the firm's short-run supply curve at the point where price is equal to or greater than average variable cost. To determine its quantity supplied, the firm equates the price of its product with its marginal cost.

Answer to Question 2

B


tingc95

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

frankwu0507

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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