The short-run supply curve and short-run marginal cost curve for ...

[pane00]

The short-run supply curve and short-run marginal cost curve for a perfectly competitive firm coincide when the market price is greater than average variable cost.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The conceptual measure of the satisfaction a person obtains by consuming all the units of a good or service during a given time period is:
 a. total product.
  b. total revenue.
  c. total utility.
  d. total product.

[bbburns21]

Answer to Question 1

True

Answer to Question 2

c