The short-run supply curve for the perfectly competitive firm is the portion of its
A) MC curve above the AVC curve.
B) MC curve above the AFC curve.
C) MC curve above the ATC curve.
D) MC curve above the MR curve.
A
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Which of the following would cause the IS curve to shift?
A) a change in the multiplier B) a change in business or consumer confidence C) an increase in autonomous tax revenue D) All of these would shift the IS curve.
Which of the following risks cannot be hedged by an insurance?
a. Exports damaged during shipment b. Theft during movement of goods c. An electrical fire at a warehouse d. Decreased sales resulting from poor salesmanship
Which of the following statements best describes consumer surplus in the supply and demand model?
a. Consumer surplus is the area in the supply and demand model that is above the market price and above the demand curve. b. Consumer surplus is the area in the supply and demand model that is below the market price and below the demand curve. c. Consumer surplus is the area in the supply and demand model that is above the market price and below the demand curve. d. Consumer surplus is the area in the supply and demand model that is below the market price and above the demand curve.
A distinguishing feature of a public good is that it:
A. is not possible to exclude people who don't pay for the public good. B. is possible to exclude people who pay for the public good. C. may have external costs. D. is provided by the government.