A perfectly competitive firm's short-run supply curve is the:
a. average total cost curve.
b. demand curve above the marginal revenue curve.
c. same as the market supply curve.
d. marginal cost curve above the average variable cost curve.
d
You might also like to view...
The larger firms in the red-meat industry have blunted the effects of competition by relying on product differentiation, which in effect, creates a downward-sloping demand curve for each firm's product
Indicate whether the statement is true or false
What amount of money was appropriated by Congress for the Troubled Asset Relief Program?
a. $225 billion b. $252 billion c. $700 billion d. $787 billion
Without government involvement, wages and interest rates are set by _______________.
A. price floors B. supply and demand C. price ceilings D. None of these choices are correct
At a price of $5, 24 units of the good would be sold; at a price of $7, 25 units of output would be sold. The marginal revenue of the 25th unit of output is:
A. $14. B. $55. C. $6. D. $175.