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 91 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
Thanks for the timely response, appreciate it

Viet Thy

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Attention and memory are in demand during circle time. Attention and memory are in demand during circle time.
A horizontally opposed engine design helps to lower the vehicle’s center of gravity. A horizontally opposed engine design helps to lower the vehicle’s center of gravity.
How to plot a cosine function containing an amplitude and phase-shift (Question 2 of 2) How to plot a cosine function containing an amplitude and phase-shift (Question 2 of 2)
Effleurage to transition to lower leg-distal to proximal. Apply effleurage with moderate pressure to ... Effleurage to transition to lower leg-distal to proximal. Apply effleurage with moderate pressure to ...
Apply lotion to the foot, lower leg, and thigh if accessible. Apply strokes from distal to proximal. Apply lotion to the foot, lower leg, and thigh if accessible. Apply strokes from distal to proximal.
Elastic Rebound Elastic Rebound
Video: Muscle Twitch and Muscle Tension - Motor unit size and force

For a complete list of videos, visit our video library