A perfectly competitive firm in the short run determines its quantity supplied at various prices by using
a. the portion of its marginal cost curve rising above its average total cost curve
b. the portion of its marginal cost curve rising above its average variable cost
c. its average variable cost curve
d. its average total cost curve
e. the portion of its average variable cost curve rising above its average fixed cost curve
B
You might also like to view...
The average tariff rate imposed by the United States on imported goods
A) has generally increased over the past 60 years. B) has generally decreased over the past 60 years. C) peaked in 1990. D) peaked in 1980.
When import quotas are imposed by a government
A) the domestic producers always lower the prices of their products to ensure that their products are sold. B) the government is trying to discourage consumers from buying foreign-made goods. C) the supply of the product on the domestic market increases. D) the price ceiling for the product has to be lowered.
Commercial banks in the United States can be chartered
a. by state governments and the federal government b. only by state governments c. only by the federal government d. only by the nationally chartered bank in Washington, D.C. e. only by the Federal Reserve
Research indicates that
A. countries with lower tariff rates experience higher rates of economic growth. B. countries with higher tariff rates experience higher rates of economic growth. C. countries with lower tariff rates experience lower rates of economic growth. D. there is no relationship between the level of tariff rates and economic growth.