Regardless of quantity in long-run equilibrium, the competitive price-taker market price cannot exceed the
a. long-run average cost of supplying that quantity.
b. total variable cost of supplying that quantity.
c. long-run total cost of supplying that quantity.
d. minimum long-run marginal cost of supplying that quantity.
A
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Sheena gets her paycheck on the first day of every month and spends it over the month to purchase various goods and services. What are the functions that money is performing in this case?
What will be an ideal response?
Workers in an economy are likely to be more productive if:
A) the economy has a high capital stock. B) the unemployment rate in the economy is low. C) the rate of inflation in the economy is high. D) the size of the population is high.
Since 1950, the labor force participation rate in the United States
A) of men and women both increased. B) of men increased and women decreased. C) of men and women both decreased. D) of men decreased and for women increased.
If the Fed chooses to control the interest rate, it
a. gives up the opportunity of determining the discount rate b. loses control over the money supply c. gives up the opportunity of determining the legal reserve requirement d. gives up the opportunity of determining the federal funds rate e. gives up the opportunity of determining the level of investment