« previous next »

Author Question: If, for the last bushel of apples produced and sold by an apple farm marginal revenue exceeds ... (Read 45 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
If, for the last bushel of apples produced and sold by an apple farm marginal revenue exceeds marginal cost, then in producing that bushel the farm
 
  A) added an equal amount to both total revenue and total cost.
  B) added more to total cost than it added to total revenue.
  C) maximized its profits or minimized its losses.
  D) added more to total revenue than it added to total cost.

Question 2

Consider a U-shaped long-run average cost curve that has a minimum efficient scale at 6,000 units of output. In this case, this industry would be
 
  A) an oligopoly if the market quantity demanded is 18,000 units.
  B) perfectly competitive if the market quantity demanded is 20,000 units.
  C) an oligopoly if the four-firm concentration ratio is more than 10 percent.
  D) monopolistically competitive if the market quantity demanded is 12,000 units.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


cupcake16

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

The site of Dmanisi has produced some of the earliest H. erectus outside of Africa. The site of Dmanisi has produced some of the earliest H. erectus outside of Africa.
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Apples Vs. Orange Apples Vs. Orange
Mango Vs. Apple Mango Vs. Apple
Uniparental disomy can be produced by several mechanisms involving nondisjunction in meiosis, nondis Uniparental disomy can be produced by several mechanisms involving nondisjunction in meiosis, nondis
Calico coat, produced by X inactivation in female cats Calico coat, produced by X inactivation in female cats
Video: Structures that affect circulation - heart and systolic/diastolic BP

For a complete list of videos, visit our video library