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

Author Question: If the demand for a commodity is perfectly elastic, a downward shift in supply will result in lower ... (Read 90 times)

azncindy619

  • Hero Member
  • *****
  • Posts: 562
on: Jun 30, 2018
If the demand for a commodity is perfectly elastic, a downward shift in supply will result in lower prices.
  Indicate whether the statement is true or false

Question 2

A profit-maximizing firm will produce the level of output at which:
 a. average revenue equals average cost.
  b. average revenue equals average variable cost.
  c. marginal revenue equals marginal cost.
  d. marginal cost equals average revenue.
  e. marginal revenue exceeds marginal cost by the maximum amount.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jharrington11

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 30, 2018
Answer to Question 1

F

Answer to Question 2

c


azncindy619

  • Member
  • Posts: 562
Reply 2 on: Jun 30, 2018
Excellent

bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
As a result of sharing its environment with humans, this macaque had the opportunity to steal an ast As a result of sharing its environment with humans, this macaque had the opportunity to steal an ast
The proboscis monkey demonstrates that large gut size contributes to a lower EQ. The proboscis monkey demonstrates that large gut size contributes to a lower EQ.
Chloride shift reaction Chloride shift reaction
Two-handed kneading to lower leg muscles. Knead the belly of the calf muscles using two hands ... Two-handed kneading to lower leg muscles. Knead the belly of the calf muscles using two hands ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Apicomplexan life cycle Animation

For a complete list of videos, visit our video library