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Author Question: Peter's Pencils is a perfectly competitive company producing pencils. Suppose Peter is producing ... (Read 117 times)

xclash

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on: May 24, 2019
Peter's Pencils is a perfectly competitive company producing pencils. Suppose Peter is producing 1,000 pencils an hour. If the total cost of 1,000 pencils is $500, the market price per pencil is $2, and the marginal cost is $2, then Peter
◦ makes an economic profit because marginal revenue is equal to marginal cost at this output level.
◦ should decrease his output to increase his profit.
◦ is maximizing his profit and is making an economic profit.
◦ should increase his output to increase his profit.
◦ is not maximizing his profit but is making zero economic profit anyway.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by xclash on May 24, 2019

ntsoane kedibone

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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xclash

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Reply #2 on: May 24, 2019
Excellent


ntsoane kedibone

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Reply #3 on: May 24, 2019
Great! Please up vote :D


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