Author Question: For prices above the minimum average variable cost, a perfectly competitive firm's supply curve is ... (Read 171 times)

Jkov05 · **on:** Jun 29, 2018

For prices above the minimum average variable cost, a perfectly competitive firm's supply curve is

A) horizontal at the market price.
B) vertical at zero output.
C) the same as its marginal cost curve.
D) the same as its average variable cost curve.

Question 2

An unregulated, single-price monopoly is shown in the figure above. If fixed cost is 20, the monopoly's total costs when it is maximizing its profit will be

A) 30.
B) 40.
C) 80.
D) 140.