Question and answer
Which of the following statements concerning indifference curves is true? (a). An indifference curve is the locus of points describing proportional price levels of the two goods. (b). Indifference
curves pre-suppose the measurement of total utility and marginal utility. (c). An indifference curve is the locus of points representing various combinations of two goods about which the consumer is indifferent. (d). Indifference curve pre-suppose the validity of “the law of diminishing returns” (e). None of the above
The answer is (c). An indifference curve is the locus of points representing various combinations of two goods about which the consumer is indifferent.
Expert answered|debralev143|Points 160|
Question
Asked 4/29/2013 1:01:40 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
In perfect competition, a firm maximizing its profits will set its output at that level where (a). Average variable cost = price (b). Marginal cost = price (c). Fixed cost = price (d). Average fixed cost = price (e). Total cost = price
Weegy: A perfectly competitive firm's economic profit is maximized at the output level such that marginal revenue equals marginal cost. (More)
Question
Expert Answered
Asked 4/29/2013 12:00:37 PM
0 Answers/Comments
The horizontal demand curve for a firm is one of the characteristic features of (a). Oligopoly (b). Monopoly (c). Monopolistic competition (d). Perfect competition (e). Duopoly
Weegy: (b). Monopoly (More)
Question
Expert Answered
Updated 11/8/2013 8:09:11 PM
1 Answer/Comment
Monopoly is wrong. The correct answer is Perfect Competition
Added 11/8/2013 8:09:11 PM
Rated good by dhiraaj, Rated bad by dhiraaj, Rated good by dhiraaj
Which of the following curves resembles supply curve under perfect competition in the short run? (a). Average cost curve above break even point (b). Marginal cost curve above shut down point (c). Marginal utility curve (d). Average utility curve (e). Average variable cost curve
Weegy: (b). Marginal cost curve above shut down A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. [ This production level can be identified using total revenue and cost, marginal revenue and cost, or profit. Because a perfectly competitive firm faces a perfectly elastic demand curve, it efficiently allocates resources by equating price and marginal cost. In addition, the marginal cost curve above the average variable cost curve is the perfectly competitive firm's short-run supply curve ] (More)
Question
Expert Answered
Asked 4/29/2013 12:06:28 PM
0 Answers/Comments
21,757,656 questions answered
Popular Conversations
There is a single instrument to measure climate change.
Weegy: There is a single instrument to measure climate change. FALSE. User: How do landfills contribute to global ...
7/29/2015 8:14:02 AM| 2 Answers
Which of the following is the best example of use of voice in a ...
Weegy: The answer is: D. a narrative about the food served in middle-school cafeterias. User: What is the best word ...
7/29/2015 9:00:04 AM| 2 Answers
After Alexander's death, Egypt was ruled by ...
Weegy: After Alexander's death, Egypt was ruled by Ptolemy. User: The philosophy that believed pleasure was the ...
7/29/2015 4:01:30 PM| 2 Answers
16. What kind of wines is Portugal most famous for? A. ...
Weegy: D. Port User: 17. The single most important ingredient in a good beer is high-quality A. malt. ...
7/29/2015 5:23:37 PM| 2 Answers
Choose the correct definition for extremo. A. extra B. ...
Weegy: end is the correct definition for extremo. User: Choose the correct translation for Yo puedo hacerlo. ...
7/29/2015 6:40:23 PM| 2 Answers
Weegy Stuff
S
1
L
Points 855 [Total 1366]| Ratings 1| Comments 845| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
P
L
Points 734 [Total 10268]| Ratings 3| Comments 684| Invitations 2|Online
S
L
L
Points 348 [Total 8548]| Ratings 5| Comments 298| Invitations 0|Offline
S
Points 267 [Total 267]| Ratings 1| Comments 257| Invitations 0|Offline
S
Points 193 [Total 193]| Ratings 1| Comments 183| Invitations 0|Offline
S
1
L
L
Points 83 [Total 8463]| Ratings 0| Comments 83| Invitations 0|Offline
S
Points 65 [Total 65]| Ratings 0| Comments 65| Invitations 0|Offline
S
Points 50 [Total 50]| Ratings 3| Comments 20| Invitations 0|Offline
S
Points 41 [Total 41]| Ratings 2| Comments 21| Invitations 0|Offline
S
Points 18 [Total 318]| Ratings 0| Comments 18| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.