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Author Question: Holding your income and the price of lobster constant, you can derive your demand curve for steak ... (Read 354 times)

jilianpiloj

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on: Jun 29, 2018
Holding your income and the price of lobster constant, you can derive your demand curve for steak from an indifference curve/budget line diagram by determining how your consumption of steak changes when the price of a steak changes.
 
  Indicate whether the statement is true or false

Question 2

In the long run, total variable cost is zero.
 
  Indicate whether the statement is true or false


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janeli

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

TRUE

Answer to Question 2

FALSE


jilianpiloj

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

marict

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

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