If firms in a competitive market have different cost functions, then
A) there is no short run market supply curve.
B) the market supply curve reflects those firms' operating envelopes, even in the short run.
C) some of the firms will shut down because their costs are too high to compete.
D) the firms' marginal costs will be different at the market price.
B
Economics
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If the real exchange rate rises 2%, domestic inflation is 3%, and foreign inflation is 1%, what is the percent change in the nominal exchange rate?
A) 6% B) 4% C) 2% D) 0%
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Human capital is the
a. knowledge and skills that workers acquire through education, training, and experience. b. stock of equipment and structures that is used to produce goods and services. c. total number of hours worked in an economy. d. same thing as technological knowledge.
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