A perfectly competitive firm's supply curve is the portion of the:
a. TC curve that lies above the TR curve.
b. MR curve that lies above the MC curve.
c. AFC curve that lies above the AR curve.
d. AVC curve that lies above the ATC curve.
e. MC curve that lies above the AVC curve.
e
You might also like to view...
The most important role of the World Trade Organization is
(a) to promote market oriented economic policies. (b) to settle trade disputes. (c) to provide development assistance. (d) to help countries choose the appropriate level of a tariff or quota.
A variable that tends to move in advance of aggregate economic activity is called
A) a leading variable. B) a coincident variable. C) a lagging variable. D) an acyclical variable.
When income levels in the rest of the world increase, what is the effect on the home TB?
a. It decreases because of expenditure switching. b. It decreases because of an increase in imports. c. It increases because of an increase in exports. d. It increases because of expenditure switching.
An appreciation in the U.S. dollar benefits which of the following groups of people?
A. All people living in the United States B. U.S. producers who export farm equipment to other countries C. U.S. consumers who buy imported automobiles D. Foreigners who wish to travel to the United States