If you must determine the long-run equilibrium output of a perfectly competitive firm and you are permitted to see only one curve, which of the following curves is most helpful?
A. Demand
B. Marginal cost
C. Average cost
D. Average fixed cost
Answer: C
Economics
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The midpoint price between $20 and $40 is
a. $10 b. $20 c. $30 d. $15 e. $200
Economics
Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $30:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. the market will be in equilibrium. B. there will be an excess demand of 95 units. C. there will be an excess demand of 45 units. D. there will be an excess supply of 45 units.
Economics