Refer to the diagram. The short-run supply curve for this firm is the:
A. entire MC curve.
B. segment of the AVC curve lying to the right of the MC curve.
C. segment of the MC curve lying to the right of output level k.
D. segment of the MC curve lying to the right of output level h.
D. segment of the MC curve lying to the right of output level h.
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In order to practice third degree price discrimination all of the following conditions must hold except that the firm
a. has monopoly power. b. is able to exercise control over resales. c. is willing to sell more to each customer at lower prices. d. charges a lower price to groups with more elastic demand.
Holding everything else constant, an increase in the price of MP3 players will result in
A) a decrease in the demand for MP3 players. B) a decrease in the quantity of MP3 players supplied. C) an increase in the supply of MP3 players. D) a decrease in the quantity of MP3 players demanded.
Explain why a minimum wage is unfair
What will be an ideal response?
The 45-degree income line is the same as the aggregate expenditure curve
Indicate whether the statement is true or false