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Author Question: When the factor market is purely competitive, the firm's average expenditure curve for a factor of ... (Read 60 times)

B

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on: Jul 1, 2018
When the factor market is purely competitive, the firm's average expenditure curve for a factor of production is
 
  A) upward sloping and to the right of the marginal expenditure curve.
  B) downward sloping and to the right of the marginal expenditure curve.
  C) identical to the marginal expenditure curve.
  D) downward sloping and to the left of the marginal expenditure curve.

Question 2

A ________ shows how much a firm will produce as a function of how much it thinks its competitors will produce.
 
  A) contract curve
  B) demand curve
  C) reaction curve
  D) Nash equilibrium curve
  E) none of the above


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tofugiraffe

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

C

Answer to Question 2

C


B

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

Perkypinki

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Reply 3 on: Yesterday
Wow, this really help

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