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

Author Question: A perfectly competitive industry always has a perfectly elastic (flat) long-run supply curve. a. ... (Read 399 times)

naturalchemist

  • Hero Member
  • *****
  • Posts: 542
on: Jun 30, 2018
A perfectly competitive industry always has a perfectly elastic (flat) long-run supply curve.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the marginal utility of each good consumers buy does not diminish but remains constant, we should witness consumers:
 a. buying no goods at all.
  b. spending all of their income on the good with the highest MU.
  c. buying one of each good.
  d. buying only the least expensive goods.
  e. become indifferent to what goods they buy.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

b


naturalchemist

  • Hero Member
  • *****
  • Posts: 542
Reply #2 on: Jun 30, 2018
Thank you


chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz
The titration curve of acetic acid The titration curve of acetic acid
Endochondral ossification of long bone. Endochondral ossification of long bone.
Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
I need help fill up the chart attached phtoto long question I need help fill up the chart attached phtoto long question
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library