« previous next »

Author Question: When the marginal revenue curve cuts the horizontal axis, A) demand is relatively elastic. B) ... (Read 43 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?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy
The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig The S-curve in the human vertebral column--a result of the evolution of bipedality--makes humans hig
The early development of the mammalian brain illustrated in schematic horizontal sections. Compare ... The early development of the mammalian brain illustrated in schematic horizontal sections. Compare ...
Horizontal Pressure Gradients in the Upper Atmosphere Horizontal Pressure Gradients in the Upper Atmosphere
A Receiver-Operating-Characteristic (ROC) Curve A Receiver-Operating-Characteristic (ROC) Curve
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Video: Molecules, Membrane Permeability and Structure

For a complete list of videos, visit our video library