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Author Question: The ________ elastic a firm's demand curve, the greater its ________. A) less; monopoly power ... (Read 49 times)

jake

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on: Jul 1, 2018
The ________ elastic a firm's demand curve, the greater its ________.
 
  A) less; monopoly power
  B) less; output
  C) more; monopoly power
  D) more; costs

Question 2

Suppose a firm has unavoidable fixed costs of 500,000 per year, and it decides to shut down. What is the firm's producer surplus?
 
  A) PS is positive in this case, but we cannot determine the value based on the given information
  B) PS is negative in this case, but we cannot determine the value based on the given information
  C) PS = -500,000
  D) PS = 0


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Koolkid240

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


jake

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

kthug

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Reply 3 on: Yesterday
Wow, this really help

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