A perfectly competitive firm's marginal cost curve above the minimum of the average variable cost curve is its:
A. short-run supply curve.
B. average cost schedule.
C. capacity output schedule.
D. total revenue minus total cost schedule.
Answer: A
You might also like to view...
Does game theory always predict real-world situations involving strategic interactions? Why or why not?
What will be an ideal response?
Macroeconomics is the study of ________ while microeconomics studies ________
A) large business enterprises; small business ventures B) the overall household economic activity; market behavior C) an individual firm; the overall economic performance of a nation D) the overall economic performance of the world; the economy of a single country E) none of the above
When bond prices rise,
a. stock prices must fall. b. interest rates must fall. c. interest rates must rise. d. bankruptcies generally increase.
The simple quantity theory of money predicts that the larger the percentage change in the money supply, the larger the percentage change in Real GDP
Indicate whether the statement is true or false