« previous next »

Author Question: Indifference curves: a. may sometimes intersect. b. are contour lines only of a linear utility ... (Read 111 times)

mckennatimberlake

  • Hero Member
  • *****
  • Posts: 559
on: Jul 1, 2018
Indifference curves:
 a. may sometimes intersect.
  b. are contour lines only of a linear utility function.
  c. are convex if the utility function is quasi-concave.
  d. shift when prices change.

Question 2

If price exceeds average costs under pure competition, ____ firms will enter the industry, supply will ____, and price will be driven ____.
 a. more; decrease; down
  b. more; decrease; up
  c. more; increase; down
  d. more; increase; up
  e. none of the above


ttt030911

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

The linear meiosis of Neurospora The linear meiosis of Neurospora
Display is the only position to view the firing lines of all cylinders. Cylinder 1 is displayed on ... Display is the only position to view the firing lines of all cylinders. Cylinder 1 is displayed on ...
Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ... Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ...
How to solve a linear system when the terms are fractions How to solve a linear system when the terms are fractions
How to solve a linear algebraic mixture problem with two unknowns How to solve a linear algebraic mixture problem with two unknowns
Tension Lines of the Skin Tension Lines of the Skin
Video: Membrane Protein and Facilitated Transport (Passive Vs Active)

For a complete list of videos, visit our video library