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

Author Question: In the above figure, the movement from point C to point A is the result of A) a decrease in the ... (Read 101 times)

kfurse

  • Hero Member
  • *****
  • Posts: 590
on: Jun 29, 2018
In the above figure, the movement from point C to point A is the result of
 
  A) a decrease in the price of coffee.
  B) an increase in the price of coffee.
  C) a decrease in the price of gasoline.
  D) an increase in the price of gasoline.

Question 2

What is the relationship between the price, P, and the average total cost, ATC, for a firm in perfect competition that makes an economic profit? That makes zero economic profit? That incurs an economic loss?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chloejackso

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

If the price is greater than the average total cost, P > ATC, the firm makes an economic profit. If the price equals the average total cost, P = ATC, the firm makes zero economic profit. If the price is less than the average total cost, P < ATC, the firm incurs an economic loss.


kfurse

  • Member
  • Posts: 590
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Liamb2179

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

The following terms describe types of body movement that occur at the diarthrotic joints The following terms describe types of body movement that occur at the diarthrotic joints
front muscle figure front muscle figure
Stressing that education reproduces a country’s social class system, conflict theorists point out ... Stressing that education reproduces a country’s social class system, conflict theorists point out ...
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
As a result of a hole in the graph, which of the following functions does not have an average ... As a result of a hole in the graph, which of the following functions does not have an average ...
Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and
Video: Splitting of Sugar, Oxidation/ Reduction & ATP Generation

For a complete list of videos, visit our video library