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:

Studying

The act of devoting time and attention to gain knowledge on a particular subject or to prepare for exams.

Video Games

Electronic games that involve human interaction with a user interface to generate visual feedback on a video device.

Total Profits

The overall income of a business after subtracting all expenses from the total revenue.

Producing Units

Facilities or entities involved in the creation of goods or services.