If the long-run market supply curve for a good is perfectly elastic, an increase in the demand for that good will, in the long run, cause ?

Related Mcqs:

For a competitive firm, marginal revenue is ?

A. total revenue divided by the quantity sold B. equal to the quantity of the good sold C. average revenue divided by the quantity sold D. equal to the price of the good sold...

If a competitive firm is producing a level of output where marginal revenue exceeds marginal cost the firm could increase profit if it ?

A. decreased production B. maintained production at the current level C. temporarily shut down. D. increased production...

The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?

A. At their lowest points B. When they are declining C. When they are increasing D. When marginal revenue is zero...

In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?

A. Upward-sloping portion of the average total cost curve B. upward-sloping portion of the average variable cost curve C. portion of the marginal cost curve that lies above the average total cost curve. D. entire marginal cost curve. E. portion of the marginal-cost curve that lies above the average variable cost curve...

A grocery store should close at night if the ?

A. variable costs of staying open are less than the total revenue due to staying open. B. total costs of staying open are less than the total revenue due to staying open C. variable costs of staying open are greater than the total revenue due to staying open D. total costs of staying open are … A grocery store should close at night if the ?Read More...