« previous next »

Author Question: Assume the short-run average total cost for a perfectly competitive industry increases as the output ... (Read 194 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Jun 30, 2018
Assume the short-run average total cost for a perfectly competitive industry increases as the output of the industry expands. In the long run, the industry supply curve will:
 a. have a positive slope.
  b. have a negative slope.
  c. be perfectly horizontal.
  d. be perfectly vertical.

Question 2

The ability of a good to satisfy a want refers to its:
 a. usefulness.
  b. utility.
  c. worthiness.
  d. necessity.


mcinincha279

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

bcretired

  • Hero Member
  • *****
  • Posts: 525
Reply #2 on: Jun 30, 2018
Thank you :)


mcinincha279

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

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?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Average national IQs according to IQ and Global Inequality Average national IQs according to IQ and Global Inequality
Compression ratio is the ratio of the total cylinder volume (when the piston is at the bottom of ... Compression ratio is the ratio of the total cylinder volume (when the piston is at the bottom of ...
Solar output Solar output
Total allowable and actual catch, Grand Bank Atlantic Cod 1959 -2012 Total allowable and actual catch, Grand Bank Atlantic Cod 1959 -2012
Calculator Output Calculator Output
An archaeological sample contains 0.700 g of lead-206 and 2.144 g of uranium-238. Assume that ... An archaeological sample contains 0.700 g of lead-206 and 2.144 g of uranium-238. Assume that ...
Video: EpiPen Animation (Part 1)

For a complete list of videos, visit our video library