The short-run supply curve of a perfect competitor is
A) its average variable cost curve.
B) its marginal revenue curve.
C) its entire marginal cost curve.
D) its marginal cost curve equal to or above the minimum point on its average variable cost curve.
Answer: D
Economics
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The above figure shows the production possibility frontier for a country. What is the opportunity cost per ton of rice to move from point D to E?
A) 3000 bottles of wine B) 333 bottles of wine C) 3 bottles of wine D) 1/3 of a bottle of wine E) None of the above answers is correct.
Economics
In the figure above, Lourdita faces a 0.5 probability of receiving $3,000 and a 0.5 probability of receiving $9,000. Her cost of bearing this risk is the distance from
A) A to F. B) A to D. C) B to E. D) C to E.
Economics