The short-run market supply curve in a price-taker industry equals the horizontal sum of the individual firm's
a. MC curves above AVC.
b. AVC curves above marginal revenue.
c. MC curves above ATC.
d. MC curves between AVC and ATC.
A
Economics
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If there is an inverse relationship between variable x and variable y, then an increase in the value of variable x will be accompanied by
A) an increase in the value of variable y. B) a decrease in the value of variable y. C) no change in the value of variable y. D) variable y reaching its maximum value.
Economics
If August futures for a commodity are currently trading at $9.30/bushel, and you expect the basis in July to be $0.30/bushel over the August futures, then you expect the July cash price to be:
A. $9.05/bushel under August B. $9.55/bushel over August C. $9.00/bushel D. $9.60/bushel
Economics