Filters
Question type
Study Flashcards

When a certain competitive firm produces and sells 40 units of output,its total revenue is $740.If there is no change in price,then what is the amount of the firm's total revenue if it produces and sells 45 units of output?

Correct Answer

verifed

verified

At 45 units of outpu...

View Answer

A long-run supply curve is flatter than a short-run supply curve because


A) firms can enter and exit a market more easily in the long run than in the short run.
B) long-run supply curves are sometimes downward sloping.
C) competitive firms have more control over demand in the long run.
D) firms in a competitive market face identical cost structures.

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

Showing 501 - 502 of 502

Related Exams

Exam 1

Ten Principles of Economics

387 Questions

Exam 2

Thinking Like an Economist

569 Questions

Exam 3

Interdependence and the Gains From Trade

463 Questions

Exam 4

The Market Forces of Supply and Demand

606 Questions

Exam 5

Elasticity and Its Application

524 Questions

Exam 6

Supply,demand,and Government Policies

593 Questions

Exam 7

Consumers,producers,and the Efficiency of Markets

496 Questions

Exam 8

Application: The Costs of Taxation

453 Questions

Exam 9

Application: International Trade

441 Questions

Exam 10

Externalities

473 Questions

Exam 11

Public Goods and Common Resources

388 Questions

Exam 12

The Design of the Tax System

499 Questions

Exam 13

The Costs of Production

507 Questions

Exam 15

Monopoly

541 Questions

Exam 16

Monopolistic Competition

521 Questions

Exam 17

Oligopoly

428 Questions

Exam 18

The Market for the Factors of Production

477 Questions

Exam 19

Earnings and Discrimination

425 Questions

Exam 20

Income Inequality and Poverty

399 Questions

Exam 21

The Theory of Consumer Choice

492 Questions

Exam 22

Frontiers of Microeconomics

380 Questions

Exam 23

Measuring a Nations Income

464 Questions

Exam 24

Measuring the Cost of Living

452 Questions

Exam 25

Production and Growth

457 Questions

Exam 26

Saving,investment,and the Financial System

502 Questions

Exam 27

The Basic Tools of Finance

461 Questions

Exam 28

Unemployment

610 Questions

Exam 29

The Monetary System

461 Questions

Exam 30

Money Growth and Inflation

427 Questions

Exam 31

Open-Economy Macroeconomic Models

488 Questions

Exam 32

A Macroeconomic Theory of the Open Economy

404 Questions

Exam 33

Aggregate Demand and Aggregate Supply

511 Questions

Exam 34

The Influence of Monetary and Fiscal Policy on Aggregate Demand

451 Questions

Exam 35

The Short-Run Trade-Off Between Inflation and Unemployment

415 Questions

Exam 36

Six Debates Over Macroeconomic Policy

273 Questions

Show Answer