Take Test: QX 538776.1 302859.1 127417721 QUESTION 18 2 points Refer to the MC 2

Question

Take Test: QX 538776.1 302859.1 127417721 QUESTION 18 2 points Refer to the MC 20.00.. $15.00 average variable cost (AVC) curve above S 15. . average total cost ATC curve above S20. c, marginal cost (MC) curve above $15 O d. marginal cost (MC) curve above SB e, marginal cost (MC) curve above S20. QUESTION 19 The University of California at Irvine (UC0 allows student organizations and private firms to sell items on campus to raise funds for various actvities. Many of the r with students. The market for boba on the UCI campus is very competitive. if legislation is passed to restrict the entry of private firms into the boba market an the UCI campus, the O a market would become lessc O b. demand for boba would fall O c. market would become more competitive. O d, demand for boba would increase e. supply for boba would increase. QUESTION 20 Refer to

Explanation / Answer

18. Option B is correct.

The supply curve of a competitive firm is the portion of the MC curve that lies above the minimum of AVC curve.

19. Option A is correct.

When private sellers are not allowed to sell into the campus, the supply of boba tea would fall, making the market less competitve because now only few sellers of the tea would be there at the campus.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.