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Author Question: A price-taking firm will tend to expand its output as long as price exceeds average variable cost ... (Read 78 times)

genevieve1028

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on: Jun 30, 2018
A price-taking firm will tend to expand its output as long as price exceeds average variable cost and:
 a. its marginal revenue is positive.
 b. its marginal revenue is greater than the market price.
  c. its marginal revenue is less than the market price.
 d. its marginal cost is less than the market price.

Question 2

If 50 percent of the population receives 20 percent of the total income, it can be represented on the Lorenz curve by:
 a. a point below the line of income equality.
  b. a line below the line of income equality.
  c. a point on the line of income equality.
  d. a line intersecting the line of income equality from below.
  e. a point above the line of income equality.


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wshriver

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

d

Answer to Question 2

a


genevieve1028

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Reply #2 on: Jun 30, 2018
Thank you


wshriver

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Reply #3 on: Jun 30, 2018
No problemo


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