« previous next »

Author Question: A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost ... (Read 67 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jun 30, 2018
A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost curve above the:
 a. average total cost curve.
  b. average variable cost curve.
  c. average fixed curve.
  d. average price curve.

Question 2

If demand is perfectly inelastic, then the demand curve will be vertical.
 a. True
  b. False
  Indicate whether the statement is true or false


wtf444

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

A sigmoid (cooperative) binding curve A sigmoid (cooperative) binding curve
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
A typical ECT sensor temperature versus voltage curve. A typical ECT sensor temperature versus voltage curve.
Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ... Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ...
Competitive inhibitor Competitive inhibitor
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library