Author Question: The perfectly competitive firm's short-run supply curve is the same as the a. supply curve of all ... (Read 121 times)

acc299 · **on:** Jun 30, 2018

The perfectly competitive firm's short-run supply curve is the same as the
a. supply curve of all other firms in the industry
b. upward-sloping portion of its marginal cost curve
c. upward-sloping portion of its marginal cost curve at or above minimum average variable cost
d. upward-sloping portion of its average variable cost curve
e. market demand curve

Question 2

What is true at the profit-maximizing quantity for a perfectly competitive firm but not for a nondiscriminating monopoly?
a. Price equals marginal cost.
b. Price is greater than marginal cost.
c. Marginal revenue equals marginal cost.
d. Marginal revenue is less than marginal cost.
e. Marginal revenue is greater than average revenue.