Author Question: The short-run market supply curve for a perfectly competitive market is obtained by summing the part ... (Read 81 times)

mmm · **on:** Jun 29, 2018

The short-run market supply curve for a perfectly competitive market is obtained by summing the part of each firm's

A) AVC curve that lies above its MC curve.
B) MC curve that lies above its AVC curve.
C) AVC curve that lies below the MC curve.
D) MC curve that lies below the AVC curve.

Question 2

Suppose that a typical German factory can produce 20 cameras or 1 computer in an hour, and that a typical American factory can produce 10 cameras or 1 computer in an hour. The opportunity cost of 20 cameras in terms of computers in Germany is

A) 10 computers per camera.
B) 2 computers per camera.
C) 1 computer per camera.
D) 1/20 of a computer per camera.