Ruby is the only supplier of gasoline in a small town. Ruby's optimal quantity is where her marginal revenue ________. Ruby's supply curve ________.

Question

Ruby is the only supplier of gasoline in a small town.  Ruby's optimal quantity is where her marginal revenue ________. Ruby's supply curve ________.

Accepted Answer

equals her marginal cost; does not exist

Answer

is more than her marginal cost; is perfectly inelastic

Answer

equals her marginal cost; is upward sloping

Answer

is more than her marginal cost; does not exist

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