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

Author Question: The flatter the slope of the supply curve the lower will be the price elasticity of supply. ... (Read 123 times)

mwit1967

  • Hero Member
  • *****
  • Posts: 501
on: Jun 30, 2018
The flatter the slope of the supply curve the lower will be the price elasticity of supply.
  Indicate whether the statement is true or false

Question 2

Suppose at a certain quantity of output, a firm's average-total-cost curve lies above its demand curve. At this quantity of output, the firm:
 a. is earning negative economic profit.
  b. is earning zero economic profit.
  c. is maximizing profit.
  d. should increase its output to maximize profit.
  e. should reduce output to maximize negative economic profit.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 30, 2018
Answer to Question 1

F

Answer to Question 2

a


mwit1967

  • Member
  • Posts: 501
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

bdobbins

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Blood supply to the pituitary gland Blood supply to the pituitary gland
The risk of dying before the age of 65 gets lower as family income gets higher. The risk of dying before the age of 65 gets lower as family income gets higher.
4.1 Age changes in total IQ based on cross-sectional data (lower line) and longitudinal data ... 4.1 Age changes in total IQ based on cross-sectional data (lower line) and longitudinal data ...
Apply kneading and deep stroking to lower arm muscles. (A) Knead muscle bellies. (B) Thumb press ... Apply kneading and deep stroking to lower arm muscles. (A) Knead muscle bellies. (B) Thumb press ...
Slope Fire Slope Fire
The Upper (A) and Lower (B) Respiratory Tracts (1 of 2) The Upper (A) and Lower (B) Respiratory Tracts (1 of 2)
Video: Muscle cell structures - actin, myosin and titin filaments

For a complete list of videos, visit our video library