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

Author Question: A firm's long-run average cost curve is derived by adding together its short-run average total cost ... (Read 158 times)

tth

  • Hero Member
  • *****
  • Posts: 579
on: Jun 29, 2018
A firm's long-run average cost curve is derived by adding together its short-run average total cost curves.
 
  Indicate whether the statement is true or false

Question 2

The recent availability of satellite television has reduced the price of cable television subscriptions. Based on this statement, what may be concluded about price, cross-price, or income elasticity of demand?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kescobar@64

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

FALSE

Answer to Question 2

The availability of a substitute will likely increase the price elasticity of demand for Cable TV. The cross-price elasticity of satellite TV and cable TV is positive, suggesting that these goods are substitutes.


tth

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
Wow, this really help

Jossy

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

A 3-tonne (3.0-long-ton; 3.3-short-ton) great white shark off Isla Guadalupe A 3-tonne (3.0-long-ton; 3.3-short-ton) great white shark off Isla Guadalupe
Human neural stem cells derived from hESCs, engineered to over-express Olig2 Human neural stem cells derived from hESCs, engineered to over-express Olig2
How Long Does Poverty Last? How Long Does Poverty Last?
The Kuznets Curve in England and Wales, 1823–1915 The Kuznets Curve in England and Wales, 1823–1915
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
The Radioactive Decay Curve The Radioactive Decay Curve
Video: Bone Growth and Remodeling

For a complete list of videos, visit our video library