« previous next »

Author Question: Gains from trade will be possible as long as A) levels of utility differ. B) utility functions ... (Read 52 times)

tnt_battle

  • Hero Member
  • *****
  • Posts: 556
on: Jul 1, 2018
Gains from trade will be possible as long as
 
  A) levels of utility differ.
  B) utility functions differ.
  C) marginal rates of substitution differ.
  D) endowments differ.

Question 2

Suppose the total cost of producing T-shirts can be represented as TC = 50 + 2q. Which of the following statements is TRUE at all levels of production?
 
  A) MC = AVC
  B) MC = AC
  C) MC > AFC
  D) All of the above.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


strudel15

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

The functions of species richness. The functions of species richness.
Female roundworm. Roundworms have long, cylindrical bodies with a tough covering. Eggs laid by the ... Female roundworm. Roundworms have long, cylindrical bodies with a tough covering. Eggs laid by the ...
One of the many functions of religion is providing emotional support. This photo was taken in ... One of the many functions of religion is providing emotional support. This photo was taken in ...
Checking the freezing and boiling protection levels of the coolant using a hydrometer. Checking the freezing and boiling protection levels of the coolant using a hydrometer.
Cut view of long bone. Cut view of long bone.
Regulation of translation in erythropoietic cells by heme levels Regulation of translation in erythropoietic cells by heme levels
Video: Import of Dietary Glucose from Intestines to Bloodstream

For a complete list of videos, visit our video library