Martha has no strategy that guarantees her the most money. c. d. She should adve

Question

Martha has no strategy that guarantees her the most money. c. d. She should advertise, and she will earn $15 000. What is one of the most imporiant properties of cost curves? a. The average-fixed-cost curve must eventually rise b. The marginal-cost curve eventually rises as output rises. c. The average-total-cost curve intersects the marginal cost curve when marginal cost 44. minimum The average-total-cost curve is high when a small amount of output is produced bec average-variable-costs are high. d. Which of the following best resembles a perfectly competitive market? a. b. c. d. 45. the smart phone market the banana market the soft drink market the tap water market 46. Market demand is given as Q 220 -4P. Market supply is given as O 2P+40. Wh elasticity of demand if the price is $42? a. 1.20 b. 0.68 c. 4.95 d. 3.23

Explanation / Answer

In perfectly competitive market their are large number of buyers and sellers selling identical goods and their is uniform price in the market. There is no restriction in entry or exit. The example of it is agricultural market.

So, answer is option (B)

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