Use the following graph to answer the next question.
The short-run supply curve for this perfectly competitive firm is the
A. segment of the MC curve lying at and to the right of quantity k.
B. entire MC curve.
C. segment of the MC curve lying at and to the right of quantity h.
D. segment of the AVC curve lying to the right of the MC curve.
Answer: C
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Refer to the scenario above. What will be the future value of the deposit after 3 years?
A) $9,822.63 B) $9,964.21 C) $10,077.70 D) $10,220.98
How are aggregate supply and stagflation related?
a. Stagflation usually causes an adverse shift in aggregate supply. b. An adverse supply shift usually causes stagflation. c. Stagflation only follows inflation, with no relation to aggregate supply. d. There is no relationship between the two.
Refer to Goods X and Y. If the indifference curves are horizontal, then we can conclude that
Assume that good X is on the horizontal axis and good Y is on the vertical axis in the consumer-choice diagram. PX denotes the price of good X, PY is the price of good Y, and I is the consumer's income. Unless otherwise stated, the consumer's preferences are assumed to satisfy the standard assumptions. a. X does not affect the individual’s utility. b. Y does not affect the individual’s utility. c. both X and Y affect the individual’s utility. d. neither good affects the individual’s utility.
The long run aggregate supply curve (LRAS) also represents
A) the full-employment level of output. B) the full-information level of output. C) the full-adjustment level of output. D) all of the above.