Which of the following is a firm's supply curve in a perfectly ...

[frankwu]

Which of the following is a firm's supply curve in a perfectly competitive market?
 a. Total cost.
  b. Marginal revenue.
  c. Marginal cost.
  d. Average variable cost.

Question 2

Good A has a price elasticity of demand of .27, while good B has a price elasticity of demand of 2.9 . To raise the most tax revenue, the government should:
 a. place a unit tax on good A.
  b. place a unit tax on good B.
  c. raise the price elasticity of demand for good A.
  d. subsidize the production of good B.
  e. cut its spending for various social programs.

[ankilker]

Answer to Question 1

c

Answer to Question 2

a

[frankwu]

YES! Correct, THANKS for helping me on my review

[parker125]

Thanks for the timely response, appreciate it