A perfectly competitive firm's short-run supply curve is:
a. the segment of the marginal cost curve above average fixed cost.
b. the upward-sloping segment of the marginal cost curve.
c. both the segment of the marginal cost curve above average fixed cost and the segment of the marginal cost curve above the minimum level of average variable cost.
d. the segment of the marginal cost curve above the minimum level of average variable cost.
d
You might also like to view...
Amanda can prepare a Thai meal for a group in 2 hours and can type a 10 page paper in the same amount of time. Morgan can prepare the meal in 3 hours. Morgan will be the more efficient typist as long as she can type the a paper in less than
a. 4 hours. b. 3 hours. c. 2 hours. d. 1 hour.
The marginal benefit of an action:
A. equals the additional benefit produced by extra units of X and tends to decrease as X increases. B. equals the additional benefit produced by the total units of X and tends to increase as X increases. C. equals the additional benefit produced by the total units of X and tends to decrease as X increases. D. equals the additional benefit produced by extra units of X and tends to increase as X increases.
Refer to the above table. What are total variable costs at an output of 2 units?
A. $100 B. $200 C. $150 D. $50
Demand deposits are a type of
a. checking account. b. time deposit. c. money market mutual fund. d. savings deposit.