This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The figure above illustrates a firm's demand and marginal revenue curves and its cost curves. If the ... (Read 60 times)

123654777

  • Hero Member
  • *****
  • Posts: 585
on: May 24, 2019


The figure above illustrates a firm's demand and marginal revenue curves and its cost curves.


If the firm in the figure above attempted to minimize its average total cost by producing 100 pairs of Tommy jeans per day at an average total cost of $20 per pair and it sold those jeans for $80 per pair, the firm would
◦ make zero economic profit.
◦ make a larger economic profit than a firm that produced 125 jeans because the ATC of producing 125 jeans is higher than the ATC of producing 100 jeans.
◦ incur an economic loss.
◦ make a smaller economic profit than a firm that produced 125 jeans.
◦ achieve an efficient use of resources.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by 123654777 on May 24, 2019

ryansturges

  • Sr. Member
  • ****
  • Posts: 338
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.
Answer Preview
Only 29% of students answer this correctly


123654777

  • Hero Member
  • *****
  • Posts: 585
Reply #2 on: May 24, 2019
Excellent


ryansturges

  • Sr. Member
  • ****
  • Posts: 338
Reply #3 on: May 24, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes. Elle and associates investigated the cost to Datura wrightii of producing sticky leaf trichomes.
This chart illustrates the four quadrants in which we can place the relationships between the state This chart illustrates the four quadrants in which we can place the relationships between the state
Attention and memory are in demand during circle time. Attention and memory are in demand during circle time.
Functional magnetic resonance image (fMRI). This image illustrates the areas of cortex that became ... Functional magnetic resonance image (fMRI). This image illustrates the areas of cortex that became ...
Mobilize the joints in the hand. Follow with figure-8s at the knuckles and scissoring the ... Mobilize the joints in the hand. Follow with figure-8s at the knuckles and scissoring the ...
The drum shown in the figure has a radius of 0.40 m and a moment of inertia of 2.3 kg m2about ... The drum shown in the figure has a radius of 0.40 m and a moment of inertia of 2.3 kg m2about ...
Video: Hemodynamics Animation

For a complete list of videos, visit our video library