The short run individual supply curve of a firm is

Asked by admin @ 03/11/2021 in Business viewed by 279 People

The short-run supply curve for an individual firm operating in a perfectly competitive market is:

a. the marginal cost curve at or above the average total cost curve.
b. the marginal cost curve at or above the average variable cost curve.
c. the marginal revenue curve at or above the average total cost curve.
d. the marginal revenue curve at or above the average variable cost curve.

Answered by admin @ 03/11/2021

Answer: d. the marginal revenue curve at or above the average variable cost curve

Explanation: short-run supply curve of a firm in a perfectly competitive market describes the relationship between price (P) and quantity supplied (Q). Supply curve in this type of market is a time in which there is an increase in quantity of goods produce by increasing variable factors while fixed factors remain the same.

One major feature of a short run market is that supply of a commodity is kept constant until price becomes greater or equal to average variable cost (AVC), supply is consistent until marginal cost (MC) is equal to average revenue (AVR).

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2738 persons

The short run individual supply curve of a firm is

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