The short-run supply curve for a perfectly competitive firm is its marginal cost curve above the minimum point on the
A) average fixed cost curve.
B) average variable cost curve.
C) average total cost curve.
D) demand curve.
B
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When demand increases and the demand curve shifts to the right, equilibrium price ________ and equilibrium quantity ________.
A. increases; increases B. increases; decreases C. decreases; increases D. decreases; decreases
When I benefit from my neighbors cleaning up their yard, I am experiencing a(n):
A. economic pressure. B. merit good. C. positive externality. D. partnership.
Many states in the U.S. acquire significant amounts of funds from the following, except:
A. State-run lotteries B. Grants from the Federal government C. Personal income taxes D. Property taxes
What are the three common features of all investments and why are they important?
What will be an ideal response?