« previous next »

Author Question: When the marginal revenue curve cuts the horizontal axis, A) demand is relatively elastic. B) ... (Read 120 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?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

In The Gross Clinic (1875), by Thomas Eakins, Professor Samuel Gross’s team of surgeons cuts through In The Gross Clinic (1875), by Thomas Eakins, Professor Samuel Gross’s team of surgeons cuts through
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 reflect a sinusoidal function across the x-axis (y=a*sin⁡b(x−c)+d) How to reflect a sinusoidal function across the x-axis (y=a*sin⁡b(x−c)+d)
J or U dose-response curve J or U dose-response curve
Determine if each function is continuous, If the function is not continuous, find the x-axis Determine if each function is continuous, If the function is not continuous, find the x-axis
Elastic/inelastic #5 Elastic/inelastic #5
Video: How a Urinalysis is Performed

For a complete list of videos, visit our video library