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

Author Question: If firms in a perfectly competitive market have dissimilar cost curves what will be the shape of the ... (Read 57 times)

PhilipSeeMore

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
If firms in a perfectly competitive market have dissimilar cost curves what will be the shape of the long-run supply curve?

Question 2

If the market price falls below the average-variable-cost, the firm will suspend production.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aadams68

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 30, 2018
Answer to Question 1

If firms have dissimilar cost curves, such that there are more types of firms with finer differences between their costs, the long-run market supply curve will slope upward but show greater responsiveness than short-run supply.

Answer to Question 2

True


PhilipSeeMore

  • Member
  • Posts: 561
Reply 2 on: Jun 30, 2018
:D TYSM

xiaomengxian

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Competitive inhibition Competitive inhibition
SICKLE SHAPE SICKLE SHAPE
Blackbody Curves Blackbody Curves
Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr
Species-area curves Species-area curves
Right lateral view showing low normal curves of the vertebral column Right lateral view showing low normal curves of the vertebral column
Video: The Hypothalamus: The Body's Thermostat (Human Thermostat)

For a complete list of videos, visit our video library