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

Author Question: The supply curve of a price-taker firm in the short run is the: a. firm's average variable cost ... (Read 109 times)

soccerdreamer_17

  • Hero Member
  • *****
  • Posts: 552
on: Jun 30, 2018
The supply curve of a price-taker firm in the short run is the:
 a. firm's average variable cost curve.
  b. portion of the firm's average total cost curve that lies above average variable cost curve.
  c. portion of the firm's marginal cost curve that lies above average variable cost curve.
  d. firm's marginal revenue curve.

Question 2

The price elasticity of demand measures consumer responsiveness to a price change.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vickyvicksss

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

True


soccerdreamer_17

  • Member
  • Posts: 552
Reply 2 on: Jun 30, 2018
Excellent

adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

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?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Average Global Temperature Rise over the Past Century Average Global Temperature Rise over the Past Century
Effect-log dose curve for the analgesic action of three narcotics and aspirin. Hydromorphone is more ... Effect-log dose curve for the analgesic action of three narcotics and aspirin. Hydromorphone is more ...
Typical Startup Cost Categories Typical Startup Cost Categories
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Blood Supply to the Lungs Blood Supply to the Lungs
Video: Mechanisms of capillary exchange (transcytosis & bulk flow)

For a complete list of videos, visit our video library