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Author Question: The fact that a perfectly competitive firm has a perfectly elastic demand curve means A) there is ... (Read 43 times)

KWilfred

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  • Posts: 570
on: Jul 1, 2018
The fact that a perfectly competitive firm has a perfectly elastic demand curve means
 
  A) there is no limit to the firm's profits.
  B) there is no limit to the firm's revenues.
  C) that it can sell all it wants at any price.
  D) None of the above

Question 2

Which of the following will cause the average fixed cost curve of making cigarettes to shift?
 
  A) a 5 million penalty charged to each cigarette maker
  B) a 1 per pack tax on cigarettes
  C) a 3 per hour wage increase
  D) an increase in the demand for cigarettes


ririgirl15

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

B

Answer to Question 2

A


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