If Two Firms Produce the Same Product but Have Different

question 51

Multiple Choice

If two firms produce the same product but have different supply curves,

• A) this would indicate that some other variable differs across the two firms.
• B) this would indicate that all variables are the same across the two firms.
• C) this would indicate that one or both of the firm's managers are misinformed.
• D) this would indicate a need for government regulation.

---

Definitions:

Consequences

The results or effects that follow from specific actions or decisions.

Obligations

Duties or commitments that an individual or organization is bound to by law, contract, or moral responsibility.

Honesty

The quality of being truthful and transparent in actions, communications, and transactions.

Property Tax Purposes

The use of property evaluation to determine the amount owed by property owners to municipal or county governments as property tax.