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 49 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
Excellent

duy1981999

  • Member
  • Posts: 341
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

The frontal sinus, an airfilled space just behind the brow, is a unique size and shape in each of us The frontal sinus, an airfilled space just behind the brow, is a unique size and shape in each of us
The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
Right lateral view showing low normal curves of the vertebral column Right lateral view showing low normal curves of the vertebral column
A container in the shape of a right circular cylinder with no top has surface area square feet. A container in the shape of a right circular cylinder with no top has surface area square feet.
A container in the shape of a right circular cylinder with no top has surface area square feet. A container in the shape of a right circular cylinder with no top has surface area square feet.
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Cell mediated immune response to a viral infection Animation

For a complete list of videos, visit our video library