It Is Usually Assumed That a Perfectly Competitive Firm's Supply

question 6

Multiple Choice

It is usually assumed that a perfectly competitive firm's supply curve is given by its marginal cost curve.In order for this to be true,which of the following additional assumptions are necessary? I.That the firm seek to maximize profits.
II.That the marginal cost curve be positively sloped.
III.That price exceeds average variable cost.
IV.That price exceeds average total cost.

• A)All of the above.
• B)I and II but not III and IV.
• C)I and III but not II and IV.
• D)I and II only.
• E)I,II and III,but not IV.

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Active Euthanasia

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A device designed to protect the wearer from inhaling harmful substances or to assist in the breathing process.

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A practice in which a person provides assistance in the suicide of another, often to relieve them from suffering due to a terminal illness or incurable condition.