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Author Question: In the short run, a firm will stay in business as long as: a. price equals average revenue. b. ... (Read 43 times)

justinmsk

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on: Jun 30, 2018
In the short run, a firm will stay in business as long as:
 a. price equals average revenue.
  b. marginal revenue is greater than or equal to marginal cost.
  c. price exceeds average variable cost.
  d. price is less than average variable cost.

Question 2

The number of computers bought increased by 20 percent when the price of on-line services declined by 10 percent. Assuming other factors are held constant, computers and on-line services are classified as:
 a. complements.
  b. unrelated goods.
  c. substitutes.
  d. social goods.


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Bsand8

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

c

Answer to Question 2

a


justinmsk

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

bdobbins

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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