« previous next »

Author Question: If the supply for a good is elastic, that means that when price increases, the A) supply will ... (Read 99 times)

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
on: Jun 29, 2018
If the supply for a good is elastic, that means that when price increases, the
 
  A) supply will increase.
  B) quantity supplied will decrease.
  C) quantity supplied will increase by a smaller percentage than the price increased.
  D) quantity supplied will increase by a greater percentage than the price increased.

Question 2

In the long-run, a firm in monopolistic competition produces an amount of output that sets
 
  A) P > ATC and MR = MC.
  B) P > ATC and MR > MC.
  C) P = ATC and MR = MC.
  D) P = ATC and MR > MC.


Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

blood supply blood supply
The medical assisting profession offers many settings in which to pursue your career. Good communica The medical assisting profession offers many settings in which to pursue your career. Good communica
A good posture for practicing meditation is seated in a chair with the back upright and in ... A good posture for practicing meditation is seated in a chair with the back upright and in ...
Minerals are nonrenewable resources in limited supply Minerals are nonrenewable resources in limited supply
Humburger is a good source of niacin , vitamin B6 and pantothenic acid Humburger is a good source of niacin , vitamin B6 and pantothenic acid
Who Oversees the Food Supply? Who Oversees the Food Supply?
Video: The Vestibular System

For a complete list of videos, visit our video library