The marginal revenue curve of a competitive firm is
a. U-shaped.
b. a ray from the origin.
c. a horizontal line at the market price.
d. downward sloping.
c. a horizontal line at the market price.
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What is the main determinant of the price elasticity of supply? Explain
Please provide the best answer for the statement.
The real-balances effect on aggregate demand suggests that a:
A. Lower price level will decrease the demand for money, decrease interest rates, and increase consumption and investment spending B. Lower price level will decrease the real value of many financial assets and therefore cause an increase in spending C. Lower price level will increase the real value of many financial assets and therefore cause an increase in spending D. Higher price level will increase the real value of many financial assets and therefore cause an increase in spending