The supply curve for a perfectly competitive firm is the portion of its marginal cost curve that lies above the average variable cost curve
Indicate whether the statement is true or false
TRUE
Economics
You might also like to view...
The optimal number of units to produce is best expressed when
A. marginal benefit exceeds marginal cost. B. marginal cost exceeds marginal benefit. C. marginal benefit and marginal cost are close to equal. D. marginal benefit and marginal cost are equal to zero.
Economics
Which of the following variables is a flow concept?
a. Gross domestic product b. Assets c. Wealth d. Money supply e. Saving
Economics
The principle of comparative advantage is associated with
a. restricting consumer choices. b. greater production at higher prices. c. specialization and exchange. d. comparing the efficiency of alternative tariffs.
Economics
______ is the difference between net income of foreigners and GDP.
a. NI b. PI c. GNP d. NNP
Economics