A perfectly competitive firm's short-run supply curve is the same as its
A) ATC curve.
B) MR curve.
C) AVC curve.
D) MC curve above the minimum of the AVC curve.
D
You might also like to view...
Joe's demand for spring water can be represented as p = 10 - Q (where p is measured in $/gallon and Q is measured in gallons). He recently discovered a spring where water can be obtained free of charge. His consumer surplus from this water is
A) $0. B) $50. C) $100. D) unknown based upon the information provided.
Economic profit is:
a. always less than zero. b. never less than accounting profit. c. less than accounting profit if implicit costs are zero. d. less than accounting profit if implicit costs are greater than zero.
In an administrative command economy, a price below equilibrium
a. means we can buy cheap goods freely b. creates opportunities for corruption c. does not matter at all d. both a and b are correct e. none of the above
The price index was 128 in 2013, and the inflation rate was 24 percent between 2012 and 2013 . The price index in 2012 was
a. 104.0. b. 103.2. c. 158.7. d. 152.0.