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Author Question: Which of the following is a firm's supply curve in a perfectly competitive market? a. Total cost. ... (Read 31 times)

frankwu

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on: Jun 30, 2018
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.


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ankilker

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

a


frankwu

  • Member
  • Posts: 549
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

kthug

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  • Posts: 332
Reply 3 on: Yesterday
Wow, this really help

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