The firm's short run supply curve is equal to the
A) entire marginal cost curve.
B) marginal cost curve above the AVC curve.
C) marginal cost curve above the ATC curve.
D) marginal cost curve above the AFC curve.
B
Economics
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When a monopolistically competitive firm is in long-run equilibrium:
A. production takes place where ATC is minimized. B. marginal revenue equals marginal cost and price equals average total cost. C. normal profit is zero and price equals marginal cost. D. economic profit is zero and price equals marginal cost.
Economics
Dave's opportunity cost of producing 1 pound of corn is ______ pound(s) of green beans
Use the following table to answer the question below.
| Dave's Production Possibilities Schedule | |
| Pounds of Green Beans | Pounds of Corn |
| 0 | 160 |
| 20 | 120 |
| 40 | 80 |
| 60 | 40 |
| 80 | 0 |
A. 4
B. 2
C. 1
D. 1/2
Economics