In a perfectly competitive market, a firm's short-run supply curve is
A) its total cost curve.
B) its marginal cost curve equal to or above the point of intersection with its average variable cost curve.
C) its average variable cost curve below the point of intersection with its total cost curve.
D) its total cost curve between the shutdown point and the break-even point.
B
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According to the Census Bureau,
a. a greater percentage of families are below the poverty level now than in 1960 b. a smaller percentage of families are below the poverty level now than in 1960 c. the same percentage of families are below the poverty level now as in 1960 d. the percentage of families below the poverty level has fallen dramatically since 1970 e. 30 percent of families are below the poverty level
Joan Robinson, author of The Second Crisis of Economic Theory, is quoted as saying, "Keynes did not want anyone to dig holes and fill them." She is pointing out that
A. As far as stabilization objectives are concerned, the level of spending is the only thing that counts. B. The government should not be interfering in the economy because the jobs created are usually unproductive. C. The content of fiscal policy is as important as its aggregate impact on the economy. D. Keynesian economic policies do not work.
According to the World View titled "Jeffrey Sachs: Big Money, Big Plans," how did Columbia University economics professor Jeffrey Sachs expect extreme poverty to be eliminated by 2025?
A. Rich nations must quadruple their foreign aid flows now, and poor nations need to be more accepting of help. B. Rich nations must double their foreign aid flows now and then double them again in 10 years, while poor nations must develop full-scale, comprehensive plans for poverty reduction. C. Poor nations must develop full-scale, comprehensive plans for poverty reduction without the help of rich nations. D. Rich nations must double their foreign aid flows now and develop full-scale, comprehensive plans for the poor countries to reduce poverty.
The interest rate the Federal Reserve charges when lending reserves to depository institutions is known as the ________
Fill in the blank(s) with correct word