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Author Question: The short-run supply curve and short-run marginal cost curve for a perfectly competitive firm ... (Read 140 times)

pane00

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
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

  • Sr. Member
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  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

c


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