In a competitive price taker market, a firm's short-run supply curve is its
a. average total cost curve above its average variable cost curve.
b. marginal cost curve above its average variable cost curve.
c. marginal cost curve above its average fixed cost curve.
d. entire marginal cost curve.
B
Economics
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If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is evidence that demand is:
a. price elastic. b. perfectly inelastic. c. unit elastic with respect to price. d. price inelastic.
Economics
Economists use the term ______ to refer to the ability of a single person (or a small group) to have a substantial influence on market prices
Fill in the blank(s) with correct word
Economics