« previous next »

Author Question: When the marginal revenue curve cuts the horizontal axis, A) demand is relatively elastic. B) ... (Read 80 times)

luminitza

  • Hero Member
  • *****
  • Posts: 555
on: Jul 1, 2018
When the marginal revenue curve cuts the horizontal axis,
 
  A) demand is relatively elastic.
  B) demand is relatively inelastic.
  C) demand is perfectly elastic.
  D) demand is unitary elastic.

Question 2

In the absence of any government regulation on price, if a firm has no power to set price on its own, one can safely conclude
 
  A) the demand curve for the firm's product is horizontal.
  B) there aren't many firms in the industry.
  C) the market is in long-run equilibrium.
  D) the firms in this industry are not profitable.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


enass

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

The oxygen isotope curve illustrates the ratio between 16O and 18O. The oxygen isotope curve illustrates the ratio between 16O and 18O.
Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug. Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug.
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
Titration curve for aspartic acid Titration curve for aspartic acid
Beef Tenderloin Cuts Beef Tenderloin Cuts
To rotate a matrix along the y-axis To rotate a matrix along the y-axis
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library