The short-run individual supply curve of the perfectly competitive firm is:
a. the upward-sloping portion of its average variable cost curve.
b. its average total cost curve.
c. its marginal cost curve above average variable cost.
d. its marginal cost curve above average total cost.
Ans: c. its marginal cost curve above average variable cost.
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Using the utility possibilities frontier above explain three ways that this society of two individuals can be made better off without making anyone worse off if it starts at point A
What will be an ideal response?
Which one of the following is true?
a. Nike has a more inelastic demand curve than shoes b. The demand curve for gas is more elastic in the short-run than in the long-run c. Cigarettes have a more elastic demands than televisions d. Salt has a more inelastic demand than meat
When the economy is far below the natural rate of real output, efforts to change inflation with monetary policy will be ____ successful and efforts to stimulate the economy will be ____ successful
a. More; less b. More; more c. Less; less d. Less; more
Two of the three pillars of labor productivity growth responsible for the changes in the United States after 1995 are technological change and
a. labor force improvement. b. labor force growth. c. capital formation. d. consumption growth.