« previous next »

Author Question: In a two-agent and two-good economy, a competitive market equilibrium occurs when A) the agents' ... (Read 51 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jul 1, 2018
In a two-agent and two-good economy, a competitive market equilibrium occurs when
 
  A) the agents' indifference curves are tangent to the price line.
  B) the agents' marginal rate of substitution are zero.
  C) the excess supply exceeds the excess demand.
  D) the agents' indifference curves intersect the price line.

Question 2

In the short run, average variable costs are minimized when
 
  A) MPL equals APL.
  B) APL is maximized.
  C) MPL is maximized and APL is increasing.
  D) Both A and B.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


b614102004

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Splash blending occurs when the ethanol is added to a tanker with gasoline and is mixed as the ... Splash blending occurs when the ethanol is added to a tanker with gasoline and is mixed as the ...
An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
Good ethical judgment comes from both learning and experience. Good ethical judgment comes from both learning and experience.
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
What is the strongest oxidizing agent of the following set: MnCl2, Mn(OH)3, MnO2, KMnO4? What is the strongest oxidizing agent of the following set: MnCl2, Mn(OH)3, MnO2, KMnO4?
Video: Helper T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library