Question
Ruby is the only supplier of gasoline in a small town. Ruby's optimal quantity is where her marginal revenue ________. Ruby's supply curve ________. is
Ruby is the only supplier of gasoline in a small town. Ruby's optimal quantity is where her marginal revenue ________. Ruby's supply curve ________.
is more than her marginal cost; does not exist
equals her marginal cost; does not exist
equals her marginal cost; is upward sloping
is more than her marginal cost; is perfectly inelastic
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Managerial Economics Theory Applications and Cases
Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield
8th edition
978-0393124491, 393124495, 978-0039391277, 393912779, 978-0393912777
