Suppose TC = 10 + (0.1 ? q2). If there are 100 identical firms in the market, the market supply curve is
A) Q = 1000 ? p.
B) Q = 500 ? p.
C) Q = 100 ? p.
D) Q = 10.
B
You might also like to view...
The resources that firms use in? production, including? land, buildings, and? equipment, are called
A. Factors B. Factor markets include all the resources firms use in their production C. Capital, land, buildings D. To produce out put
Which of the following statement is true?
a. The demand for Cheerios is less elastic than the demand for cereal b. The demand for gas is more elastic in the short-run than in the long-run c. The demand for puma shoes is more elastic than the demand for shoes d. Products with many complements have a more elastic demand
If the government thinks the price that a consumer has to pay for a good is too low, then which of the following would solve this problem?
a. a price ceiling or an excise tax b. a price floor or an excise tax c. a price ceiling or a subsidy d. a price floor or a subsidy e. none of the above will lower the price a consumer has to pay for a good
An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price
A. To fall and equilibrium quantity to rise. B. And equilibrium quantity to fall. C. To rise and equilibrium quantity to fall. D. And equilibrium quantity to rise.