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scoray [572]
3 years ago
5

In a market with 1,000 identical firms, the short-run market supply is the

Business
1 answer:
kompoz [17]3 years ago
8 0

Answer: Option(a) is correct.

Explanation:

Correct Option : Marginal cost curve above average variable cost for a typical firm in the market.

In a market of perfect competition, the shutdown price of the firms will be minimum point of average variable cost. So, there is supply of goods by the firms if the price is equal or above the shutdown point of the firm.

Therefore, the supply curve of the firm is the above part of the MC curve from the minimum point of average variable cost.

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When countries specialize in the production of goods they have the comparative advantage in, both ___________ and ______________
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Based on the question above, <u>demand and supply</u> will increase.

<h3>Demand</h3>
  • demand is the quantity of a good that consumers are willing and able to buy at various prices during a given period of time.

<h3>Supply</h3>
  • supply is the amount of a resource that firms, manufacturers, labourers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual.

Therefore, the correct answers are demand and supply.

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Detailed information about the financial statement elements is maintained in records commonly called?
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Detailed information about the financial statement elements is maintained in records commonly called "Accounts'

An account in accounting is a general ledger entry that is used to categorize and record transactions. For example, businesses will have a Cash account where they may record each transaction that raises or reduces the amount of cash they have on hand.

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