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23 May 2018
- For a purely competitive firm total revenue:
- is price times quantity sold.
- increases by a constant absolute amount as output expands.
- graphs as a straight upsloping line from the origin.
- has all of these characteristics.
Answer:
- In the short run the individual competitive firm's supply curve is that segment of the:
- average variable cost curve lying below the marginal cost curve.
- marginal cost curve lying above the average variable cost curve.
- marginal revenue curve lying below the demand curve.
- marginal cost curve lying between the average total cost and average variable cost curves.
Answer:
- For a purely competitive firm total revenue:
- is price times quantity sold.
- increases by a constant absolute amount as output expands.
- graphs as a straight upsloping line from the origin.
- has all of these characteristics.
Answer:
- In the short run the individual competitive firm's supply curve is that segment of the:
- average variable cost curve lying below the marginal cost curve.
- marginal cost curve lying above the average variable cost curve.
- marginal revenue curve lying below the demand curve.
- marginal cost curve lying between the average total cost and average variable cost curves.
Answer:
erinhare45Lv2
2 Jun 2021