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 26 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
Wow, this really help

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Evolutionary shift in plant life cycle stage dominance. Evolutionary shift in plant life cycle stage dominance.
The original Magdeburg hemispheres (lower left) used to demonstrate Otto von Guericke's vacuum The original Magdeburg hemispheres (lower left) used to demonstrate Otto von Guericke's vacuum
Pancreatitis. Inflammation of the pancreas may be the result of a bacterial infection, trauma, or ch Pancreatitis. Inflammation of the pancreas may be the result of a bacterial infection, trauma, or ch
Lower extremity blood pressure cuff Lower extremity blood pressure cuff
Attention and memory are in demand during circle time. Attention and memory are in demand during circle time.
Knead accessible lower leg muscles; alternate with effleurage. Knead accessible lower leg muscles; alternate with effleurage.
Video: Structures that affect circulation - heart and systolic/diastolic BP

For a complete list of videos, visit our video library