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

Author Question: In the above figure, when the price of a gallon of gasoline falls, which points in the above figure ... (Read 128 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
on: Jun 29, 2018
In the above figure, when the price of a gallon of gasoline falls, which points in the above figure are used to derive points on the consumer's demand curve for gasoline?
 
  A) points A and B
  B) points A and C
  C) points B and C
  D) points A, B, and C

Question 2

If the market price is less than a perfectly competitive firm's average total cost, what sort of profit or loss is the firm making?
 
  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

cpetit11

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

If the price is less than the average total cost, the firm is incurring an economic loss.


xclash

  • Member
  • Posts: 681
Reply 2 on: Jun 29, 2018
Wow, this really help

TheNamesImani

  • Member
  • Posts: 334
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

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

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance? If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance?
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
BOILING POINTS BOILING POINTS
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library