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Author Question: What is the shape of the total revenue curve derived from a horizontal demand curve? A) ... (Read 73 times)

mwit1967

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on: Jul 1, 2018
What is the shape of the total revenue curve derived from a horizontal demand curve?
 
  A) Horizontal
  B) Vertical
  C) U-shaped
  D) Upward sloping, with a positive slope

Question 2

Which of the following is NOT conducive to the successful operation of a cartel?
 
  A) Market demand for the good is relatively inelastic.
  B) The cartel supplies all of the world's output of the good.
  C) Cartel members have substantial cost advantages over non-member producers.
  D) The supply of non-cartel members is very price elastic.


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ebonylittles

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

D

Answer to Question 2

D


mwit1967

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Reply 2 on: Jul 1, 2018
Gracias!

marict

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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