Author Question: Consider the perfectly competitive firm in the above figure. The shutdown point occurs at a price of ... (Read 87 times)

CQXA · **on:** Jun 29, 2018

Consider the perfectly competitive firm in the above figure. The shutdown point occurs at a price of

A) 11.00.
B) 12.00.
C) 16.00.
D) 22.00.

Question 2

Given the data in the above table, if income is 16, and the price is 1 for a bottle of water and 2 for a hamburger, what is the quantity of water and the quantity of hamburgers that will maximize the consumer's total utility?

A) 5 bottles of water and 5 hamburgers
B) 4 bottles of water and 6 hamburgers
C) 6 bottles of water and 5 hamburgers
D) 6 bottles of water and 6 hamburgers