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Author Question: At outputs less than the minimum of average variable cost: a. marginal cost is greater than average ... (Read 117 times)

geoffrey

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on: Jun 30, 2018
At outputs less than the minimum of average variable cost:
 a. marginal cost is greater than average variable cost.
  b. marginal cost is less than average variable cost.
  c. marginal cost is equal to average variable cost.
  d. marginal cost is parallel to average variable cost.

Question 2

At the twenty-fifth anniversary of the Woodstock Festival in 1994, there were many vendors who sold tie-dyed t-shirts. No matter where one went, each vendor was selling these t-shirts for 15 a piece. Which market structure model would best characterize such a situation?
 a. Perfect competition
  b. Monopolistic competition
  c. Monopoly
  d. Oligopoly
  e. Monopsony


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irishcancer18

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

a


geoffrey

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Reply #2 on: Jun 30, 2018
Correct answers!


irishcancer18

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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